OREANDA-NEWS. November 21, 2011. The Fourth Investment Forum between South Korea and Central Asian states took place in Tashkent within the Fifth session of Cooperation Forum “Republic of Korea – Central Asia” .

The forum was aimed at strengthening and expanding cooperation with South Korea and Uzbekistan, Kazakhstan, Kyrgyz Republic and Tajikistan in economy, culture, education tourism, ICT, construction, transport and others.

Representatives of Ministry of Economy and Knowledge, Chamber of Commerce and Industry, KOTRA and Embassy of Korea in Uzbekistan, Korean companies, operating in Uzbekistan participated at the event. The delegations of Kazakhstan, Kyrgyz Republic and Tajikistan also took part at the forum.

The forum has been held annually since November 2007. The delegations include representatives of the Ministries of Foreign Affairs and trade organizations, businesses and education. Last session was held in Seoul in 2010.

South Korea is one of largest trade partners of Uzbekistan in Asian-Pacific region.

Uzbekistan exports cotton-fiber and yarn, tourism and transport services, as well as other services. The country imports from South Korea vehicles and equipment, plastic and plastic products, ferrous metals and products from them, etc.

In January-May 2011, trade turnover between Uzbekistan and South Korea reached US2.9 million, of which US.1 million fell to share of exports and US5.8 million to imports.

As of 1 October 2011, some 359 enterprises with Korean capital operate in Uzbekistan, of which 62 are with 100% Korean investments. They work in such areas as trade, light industry, mining, chemistry, food industry, machinery and metal processing, healthcare, tourism, services, and others.

About 82 Korean companies accredited at the Ministry of Foreign Economic Relations, Investment and Trade of Uzbekistan, which operate in such areas as export-import operations, transport services, textile production, services, etc.