Mon 05 2017 10:01:49
Tashkent, Uzbekistan (UzDaily.com) -- A delegation of the business circles of the Republic of Korea headed by the Director General of the Department of the Ministry of Trade, Industry and Energy (MTPE) Kang Meung Su is visiting Uzbekistan.
Within the framework of the visit on 27 April 2017, business forum and cooperation exchange with the participation of Korean companies was held in the Chamber of Commerce and Industry of Uzbekistan. The events will serve as an additional incentive for the development of business cooperation, as well as attracting foreign investments with the goal of creating joint ventures.
During the business meeting, issues of mutual cooperation on strengthening of cooperation between entrepreneurs of the two countries were discussed.
The purpose of the event was to establish trade relations between Korean manufacturers and Uzbek partners, as well as study the issues on the creation of new joint ventures in the production of components and spare parts for cars on the territory of Uzbekistan.
According to the State Statistics Committee of Uzbekistan, the volume of mutual trade between Uzbekistan and South Korea made up US$ 1.048 billion in 2016, including exports - US$184.1 million, imports - US$864.5 million.
The volume of direct investments of the Republic of Korea, attracted into the economy of the Republic of Uzbekistan, exceeded US$7 billion.
The number of enterprises with South Korean capital, operating in Uzbekistan, is 461, including 75 with 100% Korean capital. The activities of these enterprises are mainly concentrated in the sphere of trade, oil and gas, petrochemical and chemical industries, mining, engineering, electrical and textile industries, information and communication technologies, transport and logistics, tourism.