Uzbekistan, South Korea set sights on $12 billion in joint projects

Uzbek President Shavkat Mirziyoyev, who is on an official visit to South Korea, has held talks with South Korean President Lee Jae Myung to discuss ways of further strengthening the two countries’ special strategic partnership.

The talks were held in a restricted format and later expanded to include the two countries’ delegations.

The sides highlighted growing trade and investment ties, noting that more than 700 joint ventures involving South Korean capital are currently operating in Uzbekistan.

The two presidents also stressed the importance of expanding contacts between parliaments, government ministries and agencies, regional administrations, and business communities.

As a result of the visit, Uzbekistan and South Korea have prepared a portfolio of projects worth around $12 billion.

The sides also adopted an $8 billion strategic partnership program with the Export-Import Bank of Korea.

By Vafa Guliyeva