BAKU, Azerbaijan, Nov. 6
By Klavdiya Romakayeva - Trend:
Uzbekistan and South Korea discussed joint steps to deepen trade relations between the two countries to achieve a trading volume of $5 billion in the near future, Trend reports citing the Ministry of Investment and Foreign Trade.
On November 6, the tenth meeting of the Uzbek-Korean Intergovernmental Committee on Trade and Economic Cooperation was held, which was chaired by Deputy Prime Minister, Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov and Minister of Trade, Industry, and Energy of South Korea Sung Yun-mo.
The parties expressed their firm commitment to expanding multifaceted cooperation in the fields of agriculture, energy, health care, information and communication technologies, pharmaceuticals, light industry, as well as in the banking and financial sector.
There was a significant increase in the growth of trade between Uzbekistan and Korea. At the same time, the parties emphasized the significant untapped potential in this direction, in connection with which further joint steps were discussed to deepen trade relations between the two countries
Specific proposals were also voiced to eliminate existing barriers to trade and optimize conditions for the implementation of foreign trade operations by Uzbek and Korean companies.
Currently, a package of large projects is being implemented in the fields of petrochemistry, mining metallurgy, energy, textile industry, healthcare, pharmaceuticals, production of building materials, and processing of fruits and vegetables.
In addition, the parties emphasized the prerequisites for further expansion and diversification of investment cooperation through the development and implementation of new projects of industrial cooperation.
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