Karimov visit to South Korea brings investment

Eurasia News

Karimov visit to South Korea brings investment

Karimov visit to South Korea brings investment

Tashkent, Uzbekistan: The two-day visit of Uzbek President Islam Karimov to South Korea will bring both countries further closer, reports Dispatch News Desk news agency.

The visit of Karimov will help Uzbekistan to bring investment including construction of a gas chemical complex worth $4.5 billion.

“His visit to South Korea during May 27-29 was a logical and natural continuation of regular high level contacts, showing the mutual political will to give more dynamism to practical collaboration in all cooperation areas”, said official and National News Agency (UzA) on Saturday.

The talks, held during the visit between the presidents of Uzbekistan and South Korea, Islam Karimov and Park Geun-hye confirmed the similarity of positions and approaches on all areas of bilateral cooperation, as well as on the problems of the regional and international politics.

According to official media, both the presidents said the issues of development and utilization of water resources in Central Asia should be settled through consultations in line with universally recognized norms of international law in the interests of all the states in the region.

South Korea expressed gratitude to Uzbekistan for the support in the development of the Republic of Korea – Central Asia Cooperation Forum, and establishing its permanent secretariat.

It may be mentioned that Uzbekistan and GS Engineering & Construction of South Korea inked a memorandum of understanding on a project for construction of a gas chemical complex worth $4.5 billion, a representative of Uzbekistan’s government circles told Trend. The project envisages the creation of capacities for the production of olefins from methanol. The gas chemical complex is planned to be built by the GS Engineering & Construction and Uzbekistan’s National Holding Company Uzbekneftegaz.

The GS Engineering & Construction is one of the general contractors for the construction of the Ustyurt Gas Chemical Complex at Uzbekistan’s Surgil field.