The President of Uzbekistan signed a decree approving an intergovernmental agreement with South Korea. The document is aimed at mutual encouragement and protection of investments. It is published on the Lex.uz website, Sputnik writes.
The agreement was signed on April 19, 2019 in Tashkent. The Ministry of Investments and Foreign Trade of Uzbekistan is determined as the competent authority responsible for implementation of this international treaty.
Shavkat Mirziyoyev instructed the country’s Foreign Ministry to send a notification to the authorities of South Korea on the fulfillment by Uzbekistan of domestic procedures that are necessary for the entry into force of the aforementioned international treaty.
According to statistics, South Korea occupies a leading position among Uzbekistan’s trading partners in the Asia-Pacific region with a trade turnover of $2.1 billion as of 2018. The volume of direct South Korean investments attracted to the Uzbek economy exceeded $7 billion.