UZBEK, KOREAN BUSINESSES DISCUSSES ESTABLISHING COOPERATION

Uzreport.com 22.06.2009 15:41:48

A cooperation exchange between the Uzbek and Korean entrepreneurs was held in Tashkent on 22 June 2009. The

exchange, which was held in format of business negotiations, was organized by the Chamber of Commerce and Industry of Uzbekistan in cooperation with Korean-Eurasian Industrial and Technological Cooperation Center. The meeting was aimed at establishing cooperation between the Uzbek and Korean companies, specializing in auto, textile, cosmetics industries and production of medical diagnosis tools, etc. Representatives of ministries and departments, industrial associations and unions, trade and industrial enterprises, small and private businesses, working in above-mentioned spheres, participated at the exchange. Participants had an opportunity to hold negotiations in business conditions to discuss establishing bilateral cooperation. The Republic of Korea is one of the leading trade partners of Uzbekistan in the Asian-Pacific region. The countries have the most favourable trade regime. Trade turnover between two states grew by 23.7% to US$1 billion, of which US$91.5 million fell to share of Uzbek exports (up 31.1%) and US$965.1 million (up 87.7%) were imports of the country. Number of enterprises with Korean capital was 351 as of April 2009, of which 57 were enterprises with 100% Korean capital. The businesses work in such sectors as trade, light industry, chemical industry, food industry, machinery, healthcare, tourism, etc. Ministry of Foreign Economic Relations, Investment and Trade of Uzbekistan accredited 91 offices of South Korean firms, which engaged in export-import operations, transport services, textile production, servicing of electronics, and others.

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