While on an official visit in this country the Prime Minister of South Korea, Hwang Kyo-Ahn, stated that Uzbekistan has been reviving today as the transport-logistics hub of Central Asia.

The program of stay of Hwang Kyo-Ahn was very busy. Its main point was the meeting at the Oqsaroy. As the President of Uzbekistan Islam Karimov noted, “The current visit is a logical continuation of intensive and fruitful dialogue at the highest level, will further expand bilateral economic and trade, investment, technological, financial, cultural and humanitarian cooperation.” Expressing sincere gratitude to the President, Hwang Kyo-ahn said that the Republic of Korea stands for the further expansion and consolidation of mutually beneficial and comprehensive cooperation with the Republic of Uzbekistan.   

In talks with Prime Minister Shavkat Mirzioyev colleagues discussed issues of cooperation in trade, economic and investment spheres.

On the same day, the Korean Prime Minister participated in a ceremony marking the completion of construction of Ustyurt Gas Chemical Complex in Karakalpakstan and the launch in the construction of the House of Korean Culture and Art in Tashkent. “These projects have become a possibility thanks to the exceptional commitment and support of the heads of our states and are a model example of a strong friendship and confidence between the two countries. It gives me great joy to participate in the ceremony marking the completion of the industrial giant. It can be called a new “milestone” in the Korean-Uzbek economic cooperation. By scale it is really a mega-project: the size of investments is about $4 billion. It is particularly valuable in view of the fact that this new model of cooperation, which provides for the transition from commodity exports to the joint production of goods of higher added value and supply them to the global market. And the fact that in April 2014, President of the Republic of Uzbekistan Islam Karimov has personally visited the construction site of the Ustyurt Gas Chemical Complex, very encouraged by the experts involved in the project. Subsequently, we have plans to implement such large-scale initiatives,” the Prime Minister said.

Speaking about the investment cooperation, Hwang Kye-Ahn said: “During the period since the establishment of diplomatic relations in 1992, in general 14 summits were frheld. Strengthen the strategic partnership in different directions. During this time, the bilateral trade has increased almost 540 times. Today, Uzbekistan Korea’s largest trading partner in the Central Asian region, and our country was one of the leading places in the list of investment partners of the republic. What is important is that the interaction takes place not only in the energy sector, but also in areas such as transport, logistics, ICT, agriculture, health, education, culture. I am glad that more than 400 Korean companies are now actively carrying out their activities in your country. I would especially like to highlight the projects of modernization of Navoi airport, carried out since 2009, modernization Talimarjan TPP, creating Korean-Uzbek e-government center. Since the year began implementation in agriculture programs that provide construction, agriculture, development of general water distribution master plan with the use of ICT and others. As part of the November last year, agreements and memorandums worth about $1 billion were signed in Tashkent International Investment Forum between the Uzbek and Korean partners. Our government will make every effort to assist Korean companies in their participation in the project to implement the capacity of the industrial potential of Uzbekistan.

Expounding on the implementation of business projects in special economic zones established in Navoi, Jizzakh and Angren, the Korean Prime Minister said thus, “The Republic of Korea has invested heavily in the Uzbek economy. Its activities in the Free Industrial Economic Zone “Navoi” and SIZ “Angren” and established six Korean companies by invested $65 million. They produce the main parts for cars, cosmetics, technical quartz, lighting fixtures and other products demanded. In addition, there is close cooperation with Korean Air in the development of intermodal logistics center at Navoi Airport. As the heart of the Great Silk Road, Uzbekistan now is reborn as a transport and logistics hub of Central Asia.”

Source: Jahonnews.uz