TASHKENT, Uzbekistan, June 14. Uzbekistan has recently finalized an agreement on a series of new projects under the Economic Development Cooperation Fund (EDCF), totaling a substantial $2 billion, Trend reports.
The news followed a meeting between President of Uzbekistan Shavkat Mirziyoyev and President of South Korea Yun Seok Yeol with the participation of official delegations of the two countries.
According to the agreement, the new projects include the delivery of high-speed electric trains, the implementation of the second phase of the Tashkent Pharma Park project, and equipping educational institutions.
The parties acknowledged the successful partnership with Korean Eximbank and EDCF, which has resulted in a portfolio of joint initiatives that has already surpassed $3 billion.
Meanwhile, the volume of Korean investments in Uzbekistan exceeded $7.5 billion in 2023, while the trade turnover volume reached $2.5 billion. In addition, tourist flow is growing between Uzbekistan and Korea. Thus, Tashkent and Seoul are connected by 10 flights a week.
