Uzbekistan and the Republic of Korea have announced plans to increase the volume of bilateral trade in the coming years. Last year, trade turnover between the two countries reached approximately 2 billion US dollars.
Uzbekistan and the Republic of Korea have announced plans to increase the volume of bilateral trade in the coming years. Last year, trade turnover between the two countries reached approximately 2 billion US dollars.
Discussions on these goals took place during the working visit of Uzbekistan's Deputy Prime Minister Jamshid Khodjaev to Seoul. During this trip, he met with the Deputy Prime Minister and Minister of Economy and Finance of the Republic of Korea, Yoon Chul-kyu. This was reported by Jamshid Khodjaev in his LinkedIn post.
To achieve this objective, the parties agreed to establish a joint working group. This group will be responsible for expanding trade, eliminating existing barriers, strengthening direct business ties, and more actively utilizing the Korea Trade-Investment Promotion Agency (KOTRA) to promote Uzbek products in the Korean market.
Significant attention was paid to investment cooperation. Currently, Korean investments in the economy of Uzbekistan exceed 8 billion US dollars, with 725 companies with Korean capital operating in the country.
The working visit also included an Uzbek-Korean business roundtable in Seoul. Representatives from leading Korean corporations such as Dongwon F&B, Hyundai Motor Group, DH Media Tech, Envelops, LX International, Hansae Mobility, Robotis, Somang Global, Meta On Tech, SK Nexilis, and Sungshin L&P participated. Relevant ministries and state bodies of Uzbekistan have already assigned work with each of these companies.
The next step is the implementation of the agreements reached and the translation of initiatives into practical projects. Some companies represented at the roundtable are already implementing projects in Uzbekistan. Discussions focused not only on attracting investment but also on technology transfer, production localization, creation of high-tech products, and export development.
During the two-day visit, separate meetings were also held with the leadership of the Federation of Korean Industries (FKI), Sukmyun Women's University (SMWU), Korea Eximbank (KEXIM), Korea Institute of Civil Engineering and Building Technology (KIND), and Haeahn Architecture and Somang Global.
The first day of the working trip was dedicated to meetings with the heads of Korea East-West Power, Studio Galilei/GS Global, Yooshing Engineering, Korea District Heating, and the Korea Institute of Geology and Mineral Resources (KIGAM). The parties discussed opportunities to implement Korean experience and technologies in Uzbekistan in the fields of energy efficiency, infrastructure, and engineering solutions, including public transport modernization, digital solutions, and industrial process upgrades.
Special attention during the visit was paid to preparations for the upcoming Central Asia—Republic of Korea Summit, the 13th session of the Intergovernmental Commission on Trade and Economic Cooperation between Uzbekistan and Korea, as well as the first Uzbek-Korean regional forum. Regional leaders, government officials, and business representatives from both countries are expected to participate in these events. Plans also include the 'Made in Uzbekistan' exhibition and establishing direct links between regions and companies of the two countries.
Uzbekistan and South Korea have announced plans to double the volume of mutual trade in the coming years. To achieve this goal, both countries intend to establish a joint working group, eliminate existing trade barriers, and activate direct connections between companies.
The new working group will be responsible for developing measures to increase trade, as well as strengthening business ties between enterprises and eliminating barriers. Special attention is paid to the Korea Trade-Investment Promotion Agency (KOTRA), which will support the promotion of Uzbek products in the Korean market.
The countries' cooperation extends beyond mere trade. Currently, South Korean investments in Uzbekistan exceed $8 billion, and 725 companies with Korean capital operate in the country.
The parties are also preparing for the 'Central Asia - Korea' summit, which will be the 13th meeting of the Uzbekistan-Korea Intergovernmental Commission and the first Uzbekistan-Korea Interregional Forum. These events are scheduled to include a gathering of regional representatives, state bodies, and businesses, as well as the organization of the 'Made in Uzbekistan' exhibition to create conditions for direct interaction between companies and regions.
Jamshid Khojaev emphasized that a strong economic foundation has already been established between Uzbekistan and South Korea, and the next stage of development must be realized through the introduction of new technologies, projects, and strengthening direct interaction between companies.
In the context of bilateral cooperation, previously the presidents of Uzbekistan and Kyrgyzstan, Shavkat Mirziyoyev and Sadyr Japarov, agreed to elevate their partnership during negotiations in Cholpon-Ata. As a result of this meeting, it was decided to establish an Interstate Council, accelerate the launch of major infrastructure projects, and increase mutual trade turnover to $2 billion.
Uzbekistan and Bashkortostan have reached an agreement on further strengthening trade and economic cooperation. This occurred following the business forum held in Ufa on August 5, 2026.
During the event, participants signed a memorandum of understanding, while business representatives concluded commercial contracts and cooperation agreements. The main theme of the forum was deepening interaction between the Republic of Bashkortostan and the Republic of Uzbekistan.
More than one hundred Uzbek companies participated in the event, representing sectors such as light industry, food industry, chemical industry, automotive manufacturing and furniture, construction, healthcare, as well as information and communication technologies.
The forum was attended by Odilkhon Rustamov, Deputy Chairman of the Chamber of Commerce and Industry of Uzbekistan; Muzaffarxon Musaev, Deputy Chairman of the Small Business Association; Alexander Sheldyayev, Deputy Prime Minister of the Government of Bashkortostan and Minister of Industry, Energy and Innovation; heads of seven ministries of the republic; and Artem Penzin, Director of Alga Special Economic Zone.
It was noted during the meeting that bilateral trade turnover between Uzbekistan and Russia reached almost 13 billion US dollars in 2025. Furthermore, over 3000 enterprises with Russian capital currently operate in Uzbekistan.
After the forum concluded, the parties agreed on several practical steps. In particular, an agreement was reached with BashGlobalGroup LLC to open the Trade House of Uzbekistan in the Eurasia wholesale distribution center, attract Uzbek companies to the International Multifunctional Business Complex project, and implement non-food products through Tolpar Technopark.
Companies from Bashkortostan were also invited to establish production facilities in a free economic zone oriented towards supplying goods to the Afghan market.
As part of the forum, the Chambers of Commerce and Industry of Uzbekistan and Bashkortostan signed a memorandum of intent aimed at developing bilateral partnership. Following B2B format negotiations, business representatives also signed various commercial agreements and cooperation deals.
