On March 14 this year, the Ministry of Investment, Industry and Trade hosted a meeting with Vice Chairman of the Posco Group Corporation Jeong Tak.

For reference: Posco Group is a large conglomerate that owns production facilities in Korea in metallurgy, energy, chemical and textile industries. The annual turnover of the corporation is 69 BN USD.

One of the Posco Group companies, Posco International Textile, has been operating in the light industry of Uzbekistan since 1996, managing 3 spinning and 2 knitting factories in Fergana and Bukhara regions.

During the negotiations, the parties discussed the issue of expanding the activities of the textile cluster in Fergana region, in particular, the construction of a new cotton gin plant, as well as the creation of production facilities for the production of finished textile products.

In addition, the Korean side expressed interest in increasing the volume of the investment portfolio in Uzbekistan by creating new clusters in Kashkadarya and Tashkent regions.

Following the meeting, the parties agreed to continue the practice of regular bilateral meetings for the development of cooperation and the successful implementation of joint projects.