Uzbekistan, S Korea sign $5 bln deals

Uzbekistan and South Korea have signed a number of partnership agreements in the energy and industry fields. Uzbek President Islam Karimov sealed the agreements with South Korean leader Lee Myung-bak during a visit to the country on September 19-21, reported Russian news agency (Ria Novosti). The deals, estimated to be worth more than USD5 billion, included agreements on energy, engineering and mining. South Korea owns stakes in some 400 Uzbek firms and is also helping the former Soviet republic build a gas processing facility and a logistics center. The two presidents praised the cooperation and support in some large-scale projects in Uzbekistan, vowing to strengthen cooperation between the two countries. Karimov called on South Korea to participate in the Angren industrial area project, stressing his support for the South Korean government's efforts to maintain peace, stability, and denuclearization as well as to improve relations with North Korea. For his part, the South Korean President indicated that Uzbekistan has achieved constant economic growth under the ambiguity of the global economy. He pledged that South Korea would promote cooperation for continued investment and provide support to Uzbekistan for the implementation of important projects in the areas of education, health, energy, agriculture, environment, among others.