OREANDA-NEWS. December 17, 2012. Members of the delegation, headed by the Minister of Employment and Labour of the Republic of Korea Lee Chae-Pil, met with the Minister of Labour and Social Protection of the Republic of Uzbekistan Aktam Khaitov.

It was noted during the meeting that cooperation between the two countries is developing in all directions, including in the economic sphere, in increasing employment. Agreements, reached during the meetings of the heads of state of the two countries serve as an important legal basis.

Uzbekistan and South Korea have huge economic potential. The two countries have preferential trade agreements between each other. South Korea is one of the largest investment partners of Uzbekistan.

There are more than four houndred joint ventures with Korean partners operating in Uzbekistan. Our countries cooperate effectively in the fields of mechanical engineering, energy, textiles, pharmaceuticals, mining and mineral processing, building materials, petrochemical and electrical products.

A number of joint projects on social protection and employment are also implemented. In particular, at a center of vocational training, co-organized with the Korean International Cooperation Agency (KOICA) in Sergeli district, hundreds of young people are trained in areas such as mechanical engineering, electrical engineering, electronics, information technologies, vehicle maintenance.

The meeting partipants discussed issues of further strengthening cooperation between the two countries on social protection and promotion of employment. A Memorandum of Understanding between the Ministry of Labour and Social Protection of the Republic of Uzbekistan and the Ministry of Employment and Labour of the Republic of Korea, aimed at implementation of these goals, was signed.