2nd Korea-Uzbekistan High Level Meeting on Economic Cooperation
Korea and Uzbekistan Agree to Work on FTA and New KSP Model
At the 2nd Korea-Uzbekistan High Level Meeting on Economic Cooperation, held in Seoul on March 28, the two countries agreed on the following.
- Work on FTA and a new KSP model: The two countries will launch joint research programs to work together on an FTA between them, and develop the current KSP[1] programs into a new model for economic cooperation.
- Increase support: Korea will support Uzbekistan’s industrial development through its education programs for farmers, scientists and engineers, while Uzbekistan will help Korean companies participate in its infrastructure development projects.
- Work to resolve disputes: The two countries successfully resolved problems discussed at the 1st meeting, including taxes on CNG stations and FX losses incurred to Korean SMEs. At the 2nd meeting, Korea and Uzbekistan agreed to work together to find solutions to problems raised by Korean companies working on Surgil Project.
- Work to expand cooperation: The two countries checked the proceedings of the current cooperation projects, such as those related to infrastructure development, quarantine inspection, healthcare policies and e-government, as well as agreed to expand cooperation in science and technology, healthcare, education and public administration.
