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May 4, 2015



COOPERATION_DYNAMICALLYAt the International Business Center in Tashkent on May 1 held the regular meeting of Ministers of Finance of the Republic of Uzbekistan and the Republic of Korea.

The event was attended by heads of ministries and departments, companies and concerns of the two countries responsible for finance, foreign economic relations, oil and gas industry, trade, industry, agriculture, water management, telecommunications, information technology and telecommunications, textile, light industry, the stock market, health, science and education.

First Deputy Prime Minister of Uzbekistan, Minister of Finance Rustam Azimov and Deputy Prime Minister of the Republic of Korea, the Minister of Strategy and Finance Choi Kyung-hwan said that mutually beneficial cooperation between our countries is developing in all spheres, including the economic, trade, financial and investment, an important legal basis of which are the agreements reached during meetings of heads of two states. State visit of the President of the Republic of Korea Pak Kyn Ho to our country in June 2014 raised the bilateral relations to a new higher level.

Both countries have enormous economic potential and opportunities. Our countries use most favored nation treatment. Concluded a number of cooperation agreements in many industries, such as commercial and industrial and investment fields, oil and gas, mining, machinery, textiles, chemicals, logistics, construction, information and communication technology, education, health.

Consistently expanding the scale and mutually beneficial cooperation in the field of investment. South Korean businessmen willing to invest in the economy of Uzbekistan, organize joint ventures, especially in areas such as trade, textile and light industry, mining and metallurgy, chemical and food industry, engineering, tourism, health and the service sector.

The meeting dealt with the socio-economic development of Uzbekistan and South Korea, the ongoing economic reforms, the prospects for investment and to create conditions and privileges in special economic zones. It was noted that both sides have great potential for further expansion and strengthening of economic cooperation.

– High-level meetings are an important factor in the consistent development of cooperation between our countries, – said Choi Kyung Hwan. – South Korea will continue to take an active part in the reform process for the further development of the economy, modernization of industry in Uzbekistan. Our partnership is based on mutual trust and interest, will be further expanded and strengthened.

The meeting discussed issues relating to large-scale joint projects of strategic importance in the various sectors of the economy and their implementation, as well as the prospects for cooperation in the financial, investment, industrial, trade, fuel and energy, information technology and telecommunications, health care.

At the end of the meeting, Deputy Prime Minister of the Republic of Korea, the Minister of Strategy and Finance Choi Kyung Hwan was awarded the title of Honorary Doctor of the Tashkent State Economic University.