As earlier reported, President of Uzbekistan Islam Karimov traveled to the Republic of Korea with a state visit on 19-21 September at the invitation of President Lee Myung-Bak.

On 20 September, Islam Karimov and Lee Myung-Bak went ahead to have bilateral talks. President of the Republic of Korea expressed delight to meet with his Uzbek counterpart again, and said they are tied with friendly and confidential relations. The head of South Korea stressed in particular that the visit takes place in a year when the two nations mark the twentieth anniversary of diplomatic relations established between them, affording the event a special significance.

Following the negotiations, Presidents of the Republic of Uzbekistan and the Republic of Korea signed a joint statement outlining the intentions of both sides to further promote cooperation in mutually rewarding directions and sectors, an interaction that suits the vital and longer-term interests of our two nations.

Presidents Islam Karimov and Lee Myung-Bak have also expressed satisfaction with the adoption of a range of documents envisioning cooperation in law, tourism and finance, along with a considerable package of deals worth more than 5 billion US dollars, including over 3 billion dollars accounting for direct South Korean investments.

The ongoing projects are dedicated to shoring up the Navoi Free Industrial and Economic Zone, the international intermodal logistics center at the Navoi airport, as well as the Angren Special Industrial Zone.

The documents inked also encompass bilateral cooperation in such industries as mechanical engineering, energy, textiles, pharmaceuticals, extraction and processing of minerals, production of petrochemicals and electronic goods and construction materials.

The two sides have also agreed to continue with the mutually beneficial investment cooperation, including in the provision of financial and technical assistance to the implementation of socially important schemes in Uzbekistan through the Economic Development Cooperation Fund (EDCF) of Korea’s Eximbank in sectors like education, healthcare, information technologies, power saving, agriculture and environment.

A crucial component of bilateral cooperation is cultural and humanitarian bonds. A high degree of interaction has been achieved in education and science, sports, healthcare and tourism. The two sides have been enthusiastic in promoting exchange among students, teachers and specialists.