On November 26 this year, the 4th meeting of the Deputy Prime Ministers of the Republic of Uzbekistan and the Republic of Korea was held in Seoul. The Uzbek delegation at the event was headed by Deputy Prime Minister - Minister of Investments and Foreign Trade S.Umurzakov, while the Korean delegation was headed by Deputy Prime Minister - Minister of Economy and Finance Hong Nam-ki. The meeting was also attended by deputy ministers and representatives of ministries and departments of the two countries responsible for bilateral cooperation in the fields of agriculture, energy, healthcare, light and electrical industries and other areas.

The meeting served as a platform to discuss progress in the implementation of existing agreements between the two countries, as well as to develop proposals for further deepening the multifaceted bilateral partnership.

The sides considered the current state of ongoing projects and stressed the urgency of stepping up efforts toward expanding the investment cooperation and attracting advanced Korean technologies, implying elaboration and implementation of new projects in the sphere of industry, information and communication technologies, digitalization of economy, green technologies, science and education. Specific project proposals have been put forward, which in the near future will be comprehensively reviewed by the relevant ministries and agencies of the two countries for their economic efficiency.

Stable positive dynamics of Uzbek-Korean investment, trade and economic, cultural and humanitarian cooperation was noted. Since the beginning of this year, Uzbekistan's exports to Korea have grown by 9% in comparison with the same period of the last year, while the total volume of direct Korean investments in the economy of Uzbekistan has exceeded $7 billion. The Uzbek side expressed its commitment to support the Korean government's New North Policy that envisages bringing Korean trade with Uzbekistan, Kazakhstan and Turkmenistan to $10 billion by 2023, and its willingness to implement new projects and programs within the framework of this initiative.

A special attention was paid to intensification of financial and technical cooperation. The current status of projects under implementation jointly with the EDCF, such as the Pharmaceutical Cluster, the Chemical Technology Center and the Medical Cluster, which includes a multi-specialty hospital for adults, the Oncology Clinic and the Medical College, was reviewed. Also, the sides noted the successful interaction with the Korea International Cooperation Agency KOICA, under the assistance of which 32 projects worth $130 million were implemented in Uzbekistan, and more than 2,000 internships were organized in Korea for Uzbek specialists. The issues related to preparation of a new Cooperation Program with KOICA for 2022-2024 were discussed. The parties agreed to coordinate the document with a view to signing it during the upcoming high-level visit.

The exchange of views that took place during the meeting demonstrated the presence of significant reserves for further development of bilateral cooperation. Heads of delegations from the two countries have expressed willingness to maintain close contacts for high-quality and timely implementation of achieved agreements, as well as to exchange new proposals for further deepening Uzbek-Korean relations.