Uzbekistan and South Korea discuss signing a free trade agreement

The preparation and signing of the Intergovernmental Free Trade Agreement between Uzbekistan and South Korea were discussed during the videoconference between the representatives of the two countries.

The talks were a continuation of the online negotiations between First Deputy Minister of Investments and Foreign Trade of Uzbekistan, Laziz Kudratov, and Deputy Director-General for Foreign Trade Cooperation of South Korean Ministry of Trade, Industry and Energy, Yeo Han-koo, held in June, the Dunyo information agency reports.

Heads of departments of the Ministry of Investments and Foreign Trade, the Ministry of Economic Development and Poverty Reduction, the Ministry of Finance, the State Customs Committee and the Center for Economic Research and Reform represented Uzbekistan at the meeting.

The South Korean side was headed by Roh Keon-ki, Director General for FTA Policy Bureau, Ministry of Commerce, Industry and Energy. Leading researchers of the Korea Institute of International Economic Policy also participated in the discussions.

The sides exchanged views on the relevant parts of the joint studies, including the economic effects of the expansion of mutual trade, the trade policies of Uzbekistan and South Korea, including customs and tariff regulations, cooperation under the FTA and final clauses. Timelines and actors for each section have been agreed upon.

Following the discussions, the parties reached an agreement to expedite the negotiation process at the working level.