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Leaders of Korea, Uzbekistan agree to expand economic cooperation Updated: 2014-06-18 13:16:05 KST

  Leaders of Korea, Uzbekistan agree to expand economic cooperation

President Park and her Uzbek counterpart Islam Karimov agreed to continue cooperation in joint projects worth more than eight billion U.S. dollars, such as Uzbek's gas field development and chemical complex construction.
They also sought ways to expand their economic cooperation, in the areas of energy, textiles and transportation.
Seoul asked for Tashkent's support in helping Korean businesses take part in a 4 billion U.S. dollar Uzbek gas and processing plant development and in the construction of a 300 million dollar solar plant in Samarkand.

"Korean firms are monitoring Uzbekistan's growth potential. They want to take part in diverse areas such as large-scale resources development or construction infrastructure investments."
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Korea helping to develop an Uzbek electronic government administrative system and Korean firms participating in an Uzbek highway construction were also discussed.

"Korea is a strategic partner that has built an immense economy and knowledge in science and technology."
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Seoul signed a deal to build a textile complex in Uzbekistan, which is the world's number six cotton producer.
The Uzbek leader also endorsed President Park's trust-building process with North Korea, as well as her Eurasia Initiative, re-connecting energy and logistics infrastructure from the Far East to Europe, to lay the groundwork for regional peace and to change the global economic system.

"The next stop on President Park's Eurasia Initiative campaign tour is Samarkand, a city that was at the heart of the Silk Road. She will then travel to Kazakhstan on Wednesday for a three-day state visit.
Choi You-sun, Arirang News, Tashkent."
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