BAKU, Azerbaijan, September 15. Uzbekistan and
South Korea’s Lotte Group have agreed to establish a working group
to monitor the implementation of bilateral projects, as the sides
seek to expand cooperation in development, tourism and copper foil
production.
This was reflected in the statement by the press service of the
Uzbek president, following a meeting between Uzbek President
Shavkat Mirziyoyev and Lotte Group Chairman Shin Dong-bin during
the business program of his visit to South Korea.
Mirziyoyev highlighted Lotte Group’s longstanding cooperation
with Uzbekistan and its role as one of the largest South Korean
investors in the country. The Uzbek leader also noted the
successful operation of the Ustyurt Gas Chemical Complex.
The sides discussed plans to implement development projects in
Uzbekistan using advanced South Korean technologies. They also
explored prospects for expanding cooperation in the production of
copper foil, a material widely used in batteries and other
high-tech applications.
The meeting also covered Lotte Group’s plans to participate in
Uzbekistan’s tourism sector. Mirziyoyev supported the company’s
plans to manage tourism centers in the country and contribute to
improving the quality of hotel services.
“Uzbekistan places particular importance on expanding investment
cooperation with leading South Korean companies and introducing
advanced technologies across priority sectors,” the presidential
press service said.
The discussions reflect efforts to broaden Lotte Group’s
activities in Uzbekistan beyond its existing industrial investments
into construction, tourism and technology-intensive
manufacturing.
The Ustyurt Gas Chemical Complex remains an important element of
the company’s cooperation with Uzbekistan, while the proposed new
projects could create additional opportunities for technology
transfer and investment.
The sides also agreed to establish a joint working group to
monitor the implementation of bilateral projects. The group is
expected to help coordinate ongoing initiatives and address issues
arising during their implementation.
The agreement comes amid broader efforts by Uzbekistan and South
Korea to expand investment and industrial cooperation and develop
new areas of partnership during Mirziyoyev’s state visit to South
Korea.
