Uzbekistan Strikes Multibillion Dollar Deals in Korea, Seeks Mining Help
In his latest foray in the mission to reopen his nation to the world, Uzbekistan’s president embarked this week on a state visit to South Korea, where he has sealed $8.9 billion in commercial agreements.
Shavkat Mirziyoyev’s office said in a statement that the 75 deals covered interests in finance, trade and industry. The contracts in the energy and oil and gas sectors alone amounted to $2.95 billion. Another $1.7 billion were pledged in construction and infrastructure deals, and $2.7 billion in the banking and finance sector.
With multiple trips to Central Asia neighbors, and the requisite state visits to Russia, China and Turkey already completed, South Korea presented an obvious destination. South Korea is a substantial investor — around 461 companies working with Korean capital currently operate in Uzbekistan, and bilateral trade turnover from January to October this year amounted to $1.1 billion.
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