Government Begins '2nd Official Negotiation of Korea-Uzbekistan Trade Agreement'
Establishing a Foundation for Expanding Trade and Investment with Key Partners in the New Northern Region
[Sejong=Asia Economy Reporter Haeyoung Kwon] The government will begin the "2nd Official Korea-Uzbekistan Trade Agreement Negotiations" on the 22nd.
The negotiations, held via video conference over two days, will have Korea's delegation led by Kiuk Yang, Director of Free Trade Agreement (FTA) Policy at the Ministry of Trade, Industry and Energy, with about 35 representatives from related ministries including the Ministry of Trade, Industry and Energy, Ministry of Economy and Finance, Ministry of Agriculture, Food and Rural Affairs, Ministry of Oceans and Fisheries, and Korea Customs Service. The Uzbek side will be led by Badridin Abidov, Vice Minister of Investment and Foreign Trade, with around 20 representatives from related ministries participating.
Korea and Uzbekistan officially declared the start of trade agreement negotiations following the bilateral summit between the two countries in January. Since then, they have held the 1st official negotiations in April and multiple inter-session meetings to narrow differences. In this 2nd round of negotiations, discussions will be conducted on the integrated agreement text by each subcommittee covering goods, trade technical barriers, rules of origin, customs clearance and trade facilitation, and general provisions.
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Kiuk Yang, Director of FTA Policy at the Ministry of Trade, Industry and Energy, stated, "The Korea-Uzbekistan trade agreement is significant as it contributes to expanding trade and investment with new northern countries and strengthening economic cooperation, thereby establishing a foothold for our companies to advance into the new northern region." He added, "We will strive to make progress in negotiations aiming for a mutually beneficial trade agreement with Uzbekistan, a key partner in the new northern region."
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