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Korea-Uzbekistan discuss ways to promote cooperation on plant, trade and investment, and healthcare and medical areas

According to Yonhap News,

(SEOUL=Yonhap News) The governments of Korea and Uzbekistan met to discuss ways to cooperate on plant, trade and investment, healthcare and medical fields.

The Ministry of Industry, Trade, and Energy (MOTIE) held the "1st Korea-Uzbekistan Working Group" meeting at Lotte Hotel, Seoul on June 20.

It is the first meeting in two months since the leaders of two countries agreed to set up a working group under the Joint Trade and Economy Cooperation Committee in a summit during President Moon's state visit to Uzbekistan, as a way to revitalize bilateral economic cooperation projects.

Previously, the two countries opened a Korea-Uzbek agricultural machine R&D center and a joint scientific and technological center of rare metals and alloys in the summit to lay the foundation for cooperation in agricultural machine and rare metals sectors.

The two heads of states also agreed to conduct a joint study on Korea-Uzbekistan Free Trade Agreement (FTA) and revised Bilateral Investment Treaties to establish a stable business environment.

At the Working Group meeting, participants discussed how Korean companies would participate in Uzbekistan's projects such as modernization of refinery plants, establishment of combined cycle gas turbine, construction of Methanol to Olefin (MTO) plant, and modernization of transmission and substation facilities, among others.

Also, they agreed to embark on joint research on FTA in the later half of this year and keep looking for joint cooperative projects to promote bilateral investment and trade.

When it comes to healthcare and medical sectors, they agreed to hold a "Digital Healthcare Cooperation Forum" to specify cooperative measures in the medical field.

MOTIE plans to announce "Measures to reinvigorate economic cooperation with Central Asian Countries" in its "Strategic Meeting for Economic Cooperation with Central Asia" to be held on June 21.

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Reprint or redistribution without permission is prohibited.

Source Text

Source: Yonhap News (June 20, 2019)

** This article was translated from Korean.

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