On March 7, a business forum of representatives of business circles of Uzbekistan and South Korea was held at the Youth Creativity Palace in Tashkent within the framework of the visit of the delegation led by the Honorary Consul of the Embassy of the Republic of Uzbekistan in the Republic of Korea, CEO of Evergreen Motors Kim Chang-keon.
More than 300 representatives of ministries and departments, companies of the two countries responsible for such spheres as economy, investment, trade and industry, tourism, construction, logistics, engineering, ICT, energy, electrical engineering, agriculture, food, chemical and light industry, healthcare took part at the event organized by the Chamber of Commerce and Industry in cooperation with the Union of Youth of Uzbekistan and Tashkent City Khokimiyat.
The state visit of the President of Uzbekistan Shavkat Mirziyoyev to the Republic of Korea in November 2017, as well as intensification of contacts at various levels, opened a new page in development of bilateral relations.
At the business forum, Chairman of the Chamber of Commerce and Industry of Uzbekistan Adham Ikramov, Ambassador Extraordinary and Plenipotentiary of the Republic of Korea to Uzbekistan Kwon Yong-woo and others noted that thanks to the agreements reached during the meetings of the heads of the two states, the trade, economic and investment cooperation of Uzbekistan and South Korea has risen to a new level.
Today, there are more than 460 enterprises with participation of South Korean capital and 75 representative offices of companies of the Republic of Korea, in Uzbekistan. The total volume of South Korean investments attracted to the economy of Uzbekistan exceeds $7 billion. It should be emphasized that Uzbekistan accounts for the largest part of the trade turnover between the Republic of Korea and the countries of Central Asia.
During the forum the guests were informed in detail about the conditions created for investors in Uzbekistan, in particular, the opportunities for free economic and small industrial zones, tax and customs privileges and preferences.
“Uzbekistan is an important trade partner of South Korea in Central Asia”, says Kim Chang-keon, CEO of Evergreen Motors. – Our mutually beneficial cooperation in trade, industry, tourism, as well as in the sphere of production of building materials, electrical engineering and many other areas is further developing and strengthening. Within the framework of the forum, we discussed the prospects for cooperation in the assembly of spare parts for Hyundai cars and processing of natural resources.
Within the framework of the forum, “business – to business” meetings and negotiations were also held.