In preparation for the Korea-Central Asia Summit scheduled for September, the South Korean government discussed ways to enhance economic cooperation with Uzbekistan.
The Ministry of Trade, Industry and Energy announced that Minister Kim Jung-kwan met with Uzbekistan's Minister of Investment and Foreign Trade, Laziz Kudratov, on June 26 at the Government Complex in Seoul.
During the meeting, both sides exchanged views on the necessity of establishing the "C5+Korea Industrial Ministers' Meeting" as part of the first Korea-Central Asia Summit. The C5 refers to the five Central Asian countries: Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan, and Turkmenistan.
This initiative comes as Central Asia's strategic value is increasing in terms of energy, critical minerals, logistics, and emerging consumer markets. For South Korea, it presents an opportunity to diversify supply chains concentrated in specific countries and expand the foundation for companies to enter new markets.
Both parties also recognized the growing strategic importance of Korea-Uzbekistan economic cooperation amid global supply chain restructuring and heightened geopolitical uncertainties. Last year, trade between the two countries reached approximately $1.8 billion, and they aim to elevate this figure further during the upcoming summit.
To strengthen the institutional framework, the two nations agreed to resume free trade agreement (FTA) negotiations following Uzbekistan's accession to the World Trade Organization (WTO). Uzbekistan's WTO membership is expected to enhance trade norms and market openness, thereby increasing the stability of local investments and market entry for South Korean companies.
The transition to manufacturing artificial intelligence (AI) was also highlighted as a key area for cooperation. As South Korean companies expand their presence in Uzbekistan, both sides agreed to systematize collaboration in areas such as manufacturing AI, establishing manufacturing data standards, and workforce training.
As a foundational project, South Korea will utilize its official development assistance (ODA) to support the establishment of a Digital Manufacturing Technology Center. This initiative aims to enhance the quality of injection-molded products using digital technology, particularly in the automotive parts sector, and will be implemented over five years from 2025 to 2029 with a budget of 12 billion won.
Additionally, the Korea-Central Asia Business Summit, which will be held in conjunction with the summit, is expected to expand corporate exchanges and identify new business opportunities. The goal is to translate diplomatic achievements into tangible corporate collaborations and investment projects.
Separately, Minister Kim requested support for resolving management challenges faced by South Korean companies operating in Uzbekistan. He particularly praised the Korea Desk established within Uzbekistan's Ministry of Investment and Foreign Trade and urged continued efforts to foster a business-friendly investment environment through this channel.
Minister Kim Jung-kwan stated, "Uzbekistan is a key partner for South Korea and an important economic ally in Central Asia. We will work closely to ensure that the September Korea-Central Asia Summit serves as a stepping stone to elevate economic cooperation between our two countries."
* This article has been translated by AI.
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