Thursday, 19 May 2011

South Korea enjoys sole presence in Uzbekistan, what others waiting for

South Korea will pursue "country-specific" cooperation programs with Central Asian countries to better secure natural resources and help build industrial infrastructure for the rapidly emerging economies, the government said Tuesday.

The finance ministry said that a comprehensive cooperation package strategy will be followed for large, resource-rich countries such as Kazakhstan and Uzbekistan, with deal-by-deal tie-ups being sought for smaller countries like Tajikistan.

"Cooperation will be tailor-made to meet each country's needs and development levels, with every effort being made to ensure all parties benefit," the ministry said.

It said tie-ups will make full use of overseas assistance funds and local investments with South Korea moving to co-develop natural resources, and build industrial and social infrastructure for the rapidly emerging economies.

Seoul can also help countries lay the foundation for sustainable growth by building a foundation for manufacturing business, setting up information technology industries, and modernizing the agriculture and forestry sectors.

"Central Asia represents the Eurasian heartland and poses tremendous growth potential," the ministry in charge of Seoul's overall economic policy said.

South Korea will seek to expand the exchange of expert personnel, move forward on free trade pacts, and take steps to streamline legal and administrative guidelines to facilitate cooperation, the ministry said.

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