Uzbekistan and the South Korean company LS Cable & System held discussions on prospects for cooperation in the field of electrical engineering. The discussed areas include the production of modern cable products, technology transfer, and localization of production.
The meeting took place during the working trip of the Uzbek delegation to the Republic of Korea. The delegation included M. Yunusov, Chairman of the Uzeltexsanoat Association, B. Abidov, a representative of the Cabinet of Ministers, as well as representatives of LS Cable & System Ltd.
The Uzbek side presented data on the potential of the country's electrical engineering industry and possible investment opportunities. Participants reviewed potential ways of joint work in cable production, technology transfer, and localization.
LS Cable & System, founded in 1962, is one of the largest cable manufacturers in South Korea. The company produces high-voltage direct current (HVDC) and submarine cables, as well as high-voltage power cables, telecommunication solutions, and cable management systems for the renewable energy sector.
According to the information presented, the company's annual revenue is about 4.5 billion US dollars, and its products are supplied to global markets. After the meeting, both sides expressed interest in further developing cooperation and implementing promising projects in the electrical engineering sector.
The Ministry of Mining and Geology of Uzbekistan reported that representatives from Uzbekistan and PwC Consulting held discussions on prospects for joint work.
The areas of cooperation under discussion include geology, critical minerals, digital transformation, and artificial intelligence. The meeting took place in Tashkent, Uzbekistan.
The First Deputy Minister of Mining and Geology, Feruza Khamidova, held the meeting with PwC Consulting representative David Goginashvili. The parties discussed the possibility of developing a partnership in the listed fields and implementing joint projects.
Participants expressed readiness for further expansion and continuation of cooperation between the parties.
A business forum took place in Tashkent between Kazakhstan and Uzbekistan, attended by representatives from over 110 large and medium-sized private companies from Kazakhstan. The event was organized as part of fulfilling the directives of the presidents of Uzbekistan and Kazakhstan aimed at increasing bilateral trade to 10 billion US dollars.
Forum participants noted that the next stage of economic interaction development should focus on deepening industrial cooperation and creating joint production of high value-added products.
The National Chamber of Entrepreneurs of Kazakhstan, "Atameken," proposed concentrating joint efforts on three main areas. These include ensuring transparent access for enterprises to raw materials and expanding industrial cooperation, digitizing transport and logistics infrastructure and customs procedures, as well as increasing mutual investments, launching joint production projects, and localizing businesses.
The Kazakh side also put forward a proposal to create a permanent expert working group and develop a joint roadmap for harmonizing tariff, raw material, and customs mechanisms.
A practical result of the forum was the signing of a memorandum of cooperation between the Uzbek company "Glasfit Energy" and the Kazakh enterprise "Armature Insulator Plant LLP." Following the forum, B2B negotiations took place, during which business representatives from Kazakhstan and Uzbekistan discussed opportunities for implementing joint projects, finding new partners, and expanding direct business ties.
