Tashkent, Uzbekistan (UzDaily.com) -- As part of the localization program, a memorandum was signed with the Korean Engineering Corporation DGMC.

This bilateral agreement is aimed at the production of technologies and components in the country’s textile industry, which will pave the way for the implementation of new projects in accordance with the decision of the President on localization.

The leaders of the Uztekstilprom Association and the President of the Korean Engineering Corporation DGMC, Wo-Gak Choi, as well as the heads of more than 15 major Korean technology companies, held video conferences. Although the existing restrictions due to the pandemic prompted the parties to conduct personal negotiations and visit Uzbekistan, they did not prevent the signing of a bilateral agreement.

This meeting was of great importance for both parties, as well as the implementation of new projects in the textile machinery industry, as well as the widespread introduction of modern technologies and digitalization in the textile industry, science and education.

Currently, a number of projects have been implemented in the country with the support of Korean partners, including the Kor-Uz Textile Technopark currently operating in Tashkent, the purpose of which is to create new types of fabrics and clothing, conduct research and development.

The parties solemnly signed a Memorandum of Understanding, which outlines comprehensive cooperation.

During the negotiations, the parties agreed on a visit to Uzbekistan in July of this year by the heads of leading Korean enterprises and holding a conference and business forum between Uzbek and Korean enterprises.

It was also agreed that Korean companies will take part in Uztextile Expo - International Exhibition of Textile and Fashion Industry and CAITME - Central Asian Textile Machines and Technology in September.