OREANDA-NEWS. December 07, 2007. On December 4 this year at the Oksaroy Residence in Tashkent the President of the Republic of Uzbekistan Islam Karimov received the Minister of Foreign Affairs and Trade (MOFAT) of the Republic of Korea Song Ming-soon, reported the press-centre of Uzbektourism.

President has said that he respects the minister not only as the head of South Korean foreign policy institution, but also as a political leader known to have worthily contributed to the development of the Uzbek-South Korean relations.

 “We highly assess the cooperation with the Republic of Korea,” – President Islam Karimov is reported to have said, “your visit is yet another confirmation of the gradual development of ties between our countries in all areas”.

Uzbekistan’s cooperation with South Korea, also known as (a.k.a.) the Country of morning freshness, is built on the foundation of mutual friendship and trust, respect and interest. The two countries gradually cooperate in political sphere both on bilateral level and in the framework of international organizations. The fact that Uzbekistan has supported the candidature of the former Foreign Minister of the Republic of Korea Ban Ki-moon for the post of the UN Secretary General also confirms the aforesaid.

During the visit of the South Korean President Roh Moo Hyun to Uzbekistan in May 2005 President Islam Karimov proposed to take the relations between the two states up the level of strategic partnership. And during the stay of President Islam Karimov in Seoul in March 2006 the sides signed the Joint declaration on strategic partnership. That document has become as a legal basis of taking the bilateral cooperation up to a qualitatively new level.

Uzbekistan and South Korea are also reported to have established the regular exchange of visits of parliamentary delegations of the two countries. In 1995 the Association of friendship with Uzbekistan was created at the National Assembly of the Republic of Korea.

The foreign ministries of Uzbekistan and South Korea regularly hold the political consultations.

In the economic sphere - since 1992 the two countries have been enjoying the most favoring regime, while the Republic of Korea remains as one of the largest investment partners of Uzbekistan. To date, its capital inputs to Uzbekistan’s economy have exceeded 1,5 billion US dollars.

Alongside with South Korea Uzbekistan has established the new prospective sector, namely the automobile building. Besides, the country has commissioned several textile enterprises.

As of lately, the sides have been enhancing the cooperation in the fuel and energy complex. In 2006 Uzbekistan and the Republic of Korea held the first sitting of the Joint interagency commission on energy and natural resources.

There are 138 joint ventures now operating in Uzbekistan – established with participation of South Korean investors. Also, 37 South Korean companies have so far established their offices in Uzbekistan. The Uzbek-Korean and Korean-Uzbek commissions for economic cooperation and trade deal with further expanding the ties in this direction.

The bilateral Committee on culture is important in intensifying the humanitarian contacts between the two sides.

At the Oksaroy talks the Minister Song Ming-soon thanked the President for the sincere welcome.

 “The Republic of Koreas supports the consistent development of cooperation with Uzbekistan in all spheres,” – South Korean minister has said.