Uzavtosanoat, General Motors and GM Korea Supplier Association sign a memorandum of understanding

Tashkent, Uzbekistan (UzDaily.com) -- Uzavtosanoat, General Motors and GM Korea Supplier Association signed a memorandum of understanding.

The document was signed on 27 March in Seoul during the 2nd meeting of the Deputy Prime Ministers of the Republic of Uzbekistan and the Republic of Korea.

Following the signing, the parties agreed to support the development of the automotive industry in Uzbekistan through joint cooperation on the localization of automotive components and spare parts for new cars planned for production at GM Uzbekistan.

At the same time, the companies will make maximum efforts to attract Korean suppliers for localization projects in Uzbekistan. Also, the meeting participants noted that the priority area of cooperation will be to attract foreign direct investment to these projects.

In addition, during the meeting, the parties agreed to organize a symposium of suppliers in Uzbekistan in June 2019, at which all business opportunities in Uzbekistan will be presented to Korean partners.