On May 3, Deputy Prime Minister and Minister of Finance and Economy Koo Yun Cheol paid a courtesy call on Uzbek President Shavkat Mirziyoyev in Samarkand during his visit to attend the Annual Meeting of the Asian Development Bank (ADB), where they discussed the successful hosting of the Korea-Central Asia Summit scheduled for September and directions for bilateral economic cooperation.
Building on the longstanding friendship between the two countries, both sides agreed to further expand the outcomes of bilateral economic cooperation through channels such as the Deputy Prime Ministers’ Meeting, ahead of the first Korea-Central Asia Summit to be held in Korea this September.
DPM Koo spoke highly of Uzbekistan’s recent economic achievements driven by its reform and opening-up policies, and emphasized in particular the need for the two countries to broaden cooperation in such areas as the bio industry, infrastructure including railways and airports, supply chains, and regional connectivity. He also requested that Uzbekistan open more windows of opportunity for highly capable Korean companies to actively participate in industrial diversification and infrastructure modernization projects being prioritized under the “Uzbekistan – 2030” Strategy. He added that he hoped the two countries would achieve shared prosperity by jointly leading the development of high-tech industries and transportation and logistics networks in Central Asia.
Prior to the courtesy call on the President, DPM Koo reviewed the current status of bilateral economic cooperation and discussed future directions and plans for generating tangible outcomes with Uzbek Deputy Prime Minister Jamshid Khodjaev, who oversees economic cooperation with Korea, Deputy Prime Minister and Minister of Economy and Finance Jamshid Kuchkarov, as well as vice ministers from the Ministries of Investment, Industry and Trade, Economy and Finance, Transport, and Health.
The two DPMs shared the view that bilateral cooperation should expand beyond infrastructure-centered projects into future-oriented areas such as biotechnology and critical minerals. Both sides also agreed to continue discussions through the DPM’s Meeting and vice ministerial communication channels in order to deepen economic cooperation and address business-related difficulties faced by companies.
Following the DPM’s meeting, the Export-Import Bank of Korea (KEXIM) and Uzbekistan’s Ministry of Investment, Industry and Trade signed an MOU on strategic cooperation. The MOU was concluded to support companies from both countries and enhance the outcomes of bilateral economic cooperation through KEXIM’s policy financing in strategic areas such as supply chains, digital and green industries, and infrastructure. DPM Koo welcomed the signing of the MOU and expressed hope that it would serve as both a “catalyst” and a “bridge” for the early materialization and implementation of bilateral cooperation projects.
Meanwhile, DPM Koo visited the site of a medical cluster being developed in Tashkent with support from the Economic Development Cooperation Fund (EDCF), together with DPM Khojayev and Minister of Health Khudayarov Anvarovich, on May 2.
Among the facilities, the National Children’s Hospital, completed in 2020, is one of the leading tertiary pediatric hospitals in Central Asia and stands a flagship EDCF-supported health cooperation project between the two countries, attracting critically ill pediatric patients from neighboring countries as well.
DPM Koo expressed his expectation that Uzbekistan would be able to emerge as a medical hub in Central Asia based on the medical cluster. In response, DPM Khojayev conveyed his deep appreciation for Korea’s EDCF support, noting that it had enabled Uzbekistan to provide better healthcare services to its people, and said he looked forward to further expanding such cooperation in the future.
During his visit to Uzbekistan on the occasion of the ADB Annual Meeting, DPM Koo engaged with key high-level officials from Uzbekistan’s economic authorities, including a courtesy call on the President of Uzbekistan, joint meetings with two DPMs for Economic Affairs, and a meeting with DPM Archilbay Ramatov, as well as ministers and vice ministers from the transport and health ministries. This level of hospitality was highly exceptional and is expected to contribute to advancing the outcomes of the Korea-Central Asia Summit in September and to supporting Korean companies’ entry into Uzbekistan and the broader Central Asian region, through strengthened high-level trust and the establishment of direct communication channels between the two countries.
Please refer to the attached files.
