Then, KTNET, the developer of the system, was designated as an institution in charge and Uzbekistan’s International Economic Information Commercial Service and the Chamber of Commerce will play the leading role in Uzbekistan.
KTNET will begin the consulting work for a year until June. Based on the consulting results, the both institutions will sign the agreement and begin the establishment of the system. Then, the system is likely to be complete in 2013. The consulting and system export is likely to create US$23.5 million worth effect.
Jung Man-ki, official of Trade Policy, the Ministry of Knowledge Economy, said, "By exporting Korea’s e-trading system, we can play a leading role in the standardization process and access other markets in Central Asia."
U-Trade Hub is the world’s first e-trading system which covers the foreign currency notes online service and the registration and issuance of bill-of-landing. It has begun the operation on 29 July 2008.