Uzbekistan's President Shavkat Mirziyoyev discussed the prospects of economic relations with a delegation from South Korea, led by Minister of Economy and Finance Choo Kyung-ho, Nova24.uz reports.
They addressed issues related to further strengthening the Uzbek-South Korean relations as a special strategic partnership and expanding multi-faceted cooperation.
President Mirziyoyev specifically focused on shaping a new economic agenda for comprehensive cooperation with South Korea.
Cooperation across various sectors between Uzbekistan and Korea has been developing steadily, dynamically, and productively since the establishment of diplomatic relations in 1992, noted Uzbek economist Obid Khakimov. In 2006, a Joint Declaration on Strategic Partnership was adopted. A most-favored-nation regime applies to trade between two countries. Korea ranks fourth on the list of Uzbekistan's major foreign trade partners.
Uzbekistan and South Korea currently maintain fruitful cooperation in the fields of information technology, digital medicine, education, and culture. South Korea's experience is widely incorporated into Uzbekistan's preschool education system. Branches of Korean universities operate in Tashkent.
There is also a significant similarity in the model of conducting economic reforms – in both countries, the state plays a leading role in economic transformations, with considerable attention given to the development of small and medium-sized businesses. The industrial policy of the initial stages of the reform process smoothly transitions into an export-oriented policy in both nations.
CentralasianLIGHT.org,
September 8, 2023