MOU signed at ADB meeting formalizes broader bilateral cooperation
(From left) Shokhrukh Khasanovich Gulamov, Deputy Minister of Investment, Industry and Trade of Uzbekistan; Jamshid Abdukhakimovich Khodjaev, Deputy Prime Minister for Investments of Uzbekistan; Koo Yun-cheol, Deputy Prime Minister and Minister of Economy and Finance; Djamshid Anvarovich Kuchkarov, Deputy Prime Minister and Minister of Economy and Finance of Uzbekistan; and Hwang Ki-yeon, President of the Export-Import Bank of Korea. (Photo courtesy of the Export-Import Bank of Korea)
The Export-Import Bank of Korea (KEXIM) announced on May 5 that it has signed a ‘Memorandum of Understanding (MOU) for Strengthening Strategic Cooperation’ with Uzbekistan’s Ministry of Investment, Industry and Trade. The signing took place on the occasion of the Asian Development Bank (ADB) Annual Meeting held in Samarkand, Uzbekistan.
This MOU is a follow-up to an agreement signed by the two countries’ economic deputy prime ministers last December. It materializes the comprehensive agreement to strengthen cooperation in economic areas—including trade, investment, and infrastructure—into an executive pact between KEXIM and Uzbekistan’s primary investment ministry.
The agreement is significant as it establishes a foundation for practical cooperation by directly linking KEXIM’s policy finance instruments to the implementation of the two countries’ cooperative efforts.
The agreement was signed by KEXIM President Hwang Ki-yeon and Shokhrukh Khasanovich Gulamov, Deputy Minister of Investment, Industry and Trade, at a ceremony held on May 3. The ceremony was attended by Koo Yun-cheol, Deputy Prime Minister and Minister of Economy and Finance; Jamshid Abdukhakimovich Khodjaev, Deputy Prime Minister for Investments of Uzbekistan; and Djamshid Anvarovich Kuchkarov, Deputy Prime Minister and Minister of Economy and Finance of Uzbekistan.
The key points of the MOU include: industrial cooperation and information exchange for supply chain stabilization; investment cooperation in areas such as energy transition and green infrastructure; cooperation in advanced technologies like digital infrastructure and artificial intelligence (AI); cooperation on infrastructure projects; and the promotion of Public-Private Partnership (PPP) projects.
To implement the agreement, the two sides will form a joint working group to discuss cooperative projects and regularly review their implementation progress.
President Hwang stated, “This agreement is an important opportunity to translate the cooperative consensus between our two countries into concrete action.” He added, “Based on KEXIM’s financial capabilities, we will actively support Korean companies so they can achieve tangible results in Uzbekistan’s infrastructure, green, and advanced technology sectors.”
Meanwhile, President Hwang is scheduled to attend the relocation ceremony for KEXIM’s Tashkent office on May 6. The KEXIM Tashkent office, which opened in 2007, has relocated to the same building as the Korea Trade-Investment Promotion Agency (KOTRA) Tashkent office. This move is in line with the government’s ‘K-Maru’ policy, which aims to gather overseas branches of public institutions in one place to provide one-stop support—including finance, marketing, and information sharing—to Korean companies.
Yoon Young-sil
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