Uzbekistan, Korea develop trade and investment cooperation

June 08, 2011 | Viewed : 599 times

Uzbek Chamber of Commerce discussed prospects of business cooperation with South Korean partners in a meeting on 2 June linked to the visit of Small & medium Business Corporation (SBC) delegation of the Republic of Korea to Uzbekistan.

The delegation was headed by Jong-ho Song, the president of international relations department of SBC.

The purpose of this visit is to develop trade and investment opportunities between business circles of Uzbekistan and South Korea. The sides discussed issues of mutual cooperation and strengthening ties between entrepreneurs of two countries.

The Republic of Korea is a leading trade partner of Uzbekistan in Asia-Pacific region. It accounts for more than 5% of Uzbekistan's external trade.

The two countries signed Trade Agreement in 1992 to establish preferential treatment. In nine months of 2010 bilateral trade volume amounted to $1.1 billion, including $102.5 million exports, $1.02 billion imports.

Investment cooperation is intensifying. Number of companies with Korean capital on 1 July 2010 totaled 363, including 60 of them with 100% Korean capital.

As many as 86 Korean companies are accredited by the Ministry of foreign economic affairs, investments and trade of Uzbekistan. They are engaged in export-import operations, the provision of transportation services, textile manufacturing, servicing electronics, etc. (Source: UzReport Agency)




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