S. Korea, Uzbekistan Seek Cooperation in Energy, Resource

The Finance Ministers of South Korea and Uzbekistan held a meeting Wednesday to discuss ways to bolster bilateral economic cooperation amid rising global uncertainties, the ministry said.

    "South Korea and Uzbekistan will foster cooperation in energy and resource sectors and strengthen our industrial partnership," Finance Minister Yoo Il-ho said in the fourth South Korea-Uzbekistan finance ministers' meeting with his Uzbek counterpart Rustam Azimov in Seoul, according to the South Korea's Ministry of Strategy and Finance.

    The ministerial level meeting, which takes place every year, is one of the most important communication channels between the two countries, the ministry said.

    Yoo said the two governments will join hands to expand the participation of South Korean companies in government-led projects in Tashkent, including one to build a passenger terminal in Uzbekistan's main gateway.

    South Korea will support the projects through a package of its state-run overseas development funds, including the Korea Economic Development Cooperation Fund (EDCF), in a bid to carry out more effective bilateral projects, he added.

    Uzbekistan is South Korea's biggest trade partner in the Central Asian region, with trade volume reaching US$1.3 billion in 2015, according to South Korea's News Agency (Yonhap).