OREANDA-NEWS. On May 12, 2008 Prime Minister of Uzbekistan Shavkat Mirziyoyev and the Prime Minister of the Republic of Korea Han Seung-Soo met in Tashkent. The sides considered issues of expansion of economic, cultural and humanitarian cooperation, reported the Official website www.gov.uz. 

The prime ministers signed an intergovernmental framework agreement to provide long-term soft loans worth USD 120 million of the Economic Cooperation Development Fund for the period 2008-2011. Cooperation documents were also signed between the agencies for standardization, science, geology, oil and gas companies, as well as Asakabank of Uzbekistan and Eximbank of South Korea.

Relations between Uzbekistan and South Korea are developing intensively in almost all areas, particularly in the fields of oil and gas, energy, aircraft, engineering, commerce, industry, education, transport and transport communications, health, agriculture, electrical engineering. The volume of trade turnover in 2007 exceeded USD 850 million. More than 300 joint ventures established with participation of Korean investors operate in Uzbekistan. Over 70 South Korean companies have their representative offices in the country.

The prime ministers of Uzbekistan and Korea met representatives of business circles of the two countries. The Korean businessmen got acquainted with the privatization process and reforms in small business and private enterprise in Uzbekistan. They discussed expanding ties in engineering, oil and gas, energy, trade, banking and financial sectors and greater involvement of South Korean companies in privatization in Uzbekistan.

Shavkat Mirziyoyev and Han Seung-Soo also took part in the opening ceremony of the UzKorGasChemical joint venture on Surgil project. The company specializes in geological and exploration works at Surgil mine on the Ustyurt plateau, exploitation of deposits, producing polyethylene and polypropylene. It was established according to the memorandum of understanding signed between the Korea Gas Corporation and the national holding company Uzbekneftegaz during the state visit of the President Islam Karimov to the Republic of Korea in March 2006. The total cost of the project amounts to USD 1,84 billion.

On Sunday, Han Seung-Soo, accompanied by Prime Minister Shavkat Mirziyoyev, visited Almalyk Mining and Metallurgical Complex (AGMK) in Tashkent region. AGMK combines four enterprises producing ore raw materials, two metallurgical plant for the production of acid sulphate, mechanical-repair and lime plants, numerous subsidiary shop. 70% of its production is exported abroad.

The Prime Minister of the Republic of Korea visited Mustaqillik (Independence) Square in the center of Uzbek capital and laid flowers to the Monument of Independence and Humanism, a symbol of freedom, bright future and noble aspirations.

Han Seung-Soo also held talks with Chairman of Senate of Oliy Majlis Ilgizar Sabirov, which focused on the current state and prospects of cooperation between the supreme legislative bodies of Uzbekistan and the Republic of Korea.