EMBASSY OF UZBEKISTAN TO THE UNITED STATES
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NEWS AND EVENTS
September 19, 2014
Meeting with a Delegation from the Republic of Korea
A meeting has taken place at the State Committee for Privatization, De-monopolization and Development of Competition of the Republic of Uzbekistan with officials from the Republic of Korea.

Deputy Chairman of the State Committee for Privatization, De-monopolization and Development of Competition of the Republic of Uzbekistan Abdusamad Himmatov, President of Korea Consumer Agency Dae-Pyo Jung stressed the consistent advancement of ties between Uzbekistan and South Korea across all the aspects of interaction, whose important normative foundation is built on agreements reached during meetings between the leaders of two nations. The state visits of President Islam Karimov to the Republic of Korea in September 2012 and President of the Republic of Korea Park Geun-hye to our country in June 2014 raised the bilateral relations to a qualitatively new level.

South Korea is a reliable strategic partner of Uzbekistan. Both countries wield enormous potential in the economic sphere. In this field, the two nations enjoy the most favorable regime.

The cooperation between our two countries has been steadily progressing at the inter-agency level. Uzbekistan’s State Committee for Privatization, De-monopolization and Development of Competition closely interacts with a range of similar agencies and organizations of the Republic of Korea, including the Korea Consumer Agency. In accordance with the Memorandum on Cooperation signed in 2013 between the State Committee for Privatization, De-monopolization and Development of Competition of the Republic of Uzbekistan and the Korea Consumer Agency, corresponding training seminars are being held. The two sides exchange expertise and information between specialists.

The privatization process underway in Uzbekistan has been yielding its remarkable effects. Ensuring by the state of all the rights of private property owners and investors, guarantees of property immunity, numerous privileges and preferences opens up a broad way for the development of business also for investors from abroad. Active in this process have been businesspeople from South Korea.

It was underscored during the conversation that the dynamically evolving trade-economic and investment cooperation between the Republic of Uzbekistan and the Republic of Korea serves for the further expansion of interrelations, for the successful realization of prospective joint projects.

The two sides exchanged views on issues pertaining to the further consolidation of cooperation in the filed of privatization of public property and the development of market economy built on sound competition, de-monopolization and protection of consumer rights.

(Source: UzA)


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