Tashkent, Uzbekistan (UzDaily.com) - Today, 22 October 2020, an online video conference of the Chamber of Commerce and Industry of Uzbekistan with the Korean Importers Association (KOIMA) was held with the assistance of the Embassy of the Republic of Uzbekistan in the Republic of Korea.

The Korea Importers Association was established in 1970 by the government of the Republic of Korea and is an association of Korean importers, distributors and representatives of foreign manufacturers and suppliers. The main goal is to facilitate the import of goods, raw materials and services.

At the beginning of the video conference, Chairman of the Uzbek CCI A. Ikramov made an opening speech, where he noted that Uzbekistan and Korea are reliable and long-time-tested partners and are progressively developing bilateral cooperation not only in trade, economic, investment spheres, but also strengthen relations in the field of scientific and technological, socio-cultural as well as intellectual cooperation.

Also, the Uzbek side mentioned that economic cooperation is undoubtedly one of the priority areas of cooperation between our countries.

It should be noted that due to the ongoing global economic crisis, bilateral relations between the countries in recent years have undergone significant changes due to personal initiatives and efforts of the heads of state of the two countries.

In his speech, the President of the Korean Importers Association (KOIMA) Mr. Hong also noted that our countries are time-tested strategic partners. As a result of common aspirations, cooperation between our countries is consistently developing in all directions.

During the meeting, the participants got acquainted with promising areas of mutually beneficial cooperation, as well as on the further expansion of trade between the Republic of Uzbekistan and the Republic of Korea.

It is also worth noting that this meeting serves to support entrepreneurs of the two countries, in particular, the creation of favorable conditions for international trade, including the export of goods from Uzbekistan to the Republic of Korea.

In Uzbekistan as of 1 October 2020, there are 863 enterprises with the participation of the Korean capital, and the total volume of investments of the Republic of Korea in the economy of Uzbekistan exceeded US$7 billion.

The Republic of Korea is one of the key trade and economic partners of Uzbekistan. As of 1 September 2020, mutual trade made up US$1.45 billion (for the same period of 2019 – US$1.8 billion), of which the export of Uzbekistan is only US$29 million (for the same period of 2019 - US$64.7 million), and Korea's imports reached US$1.42 billion  (for the same period of 2019 – US$1.7 billion