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economic and social development
by opening up to the outside world, liberalising its economy, and fighting corruption in close cooperation with the international community. Building on this experience, the Republic of Korea supports Uzbekistan’s efforts in implementing reforms and, being a special strategic partner, will continue to collaborate closely in the social, economic, and democratic development of Uzbekistan.”
He also noted: “Although geographically we are far from each other, nevertheless, we are connected by a long and friendly history of exchanging advanced scientific achievements and technologies.”
Uzbekistan-South Korea trade moved up from $1.9bn in 2021 to $2.3bn in 2022 and 2023. South Korean investments in Uzbekistan have exceeded $7bn. Around 170,000 Koreans live in the country, Central Asia’s most populous with a population of more than 35mn, while over 500 Korean companies operate
there, including household names such as Samsung, LG and Hyundai. The two countries have also established several free economic zones, such as in Navoi and Angren.
Accompanied by First Lady Kim Keon Hee and representatives from over 60 Korean companies, Yoon will on his visit attend a bilateral business forum. The visit is important to the launch of the Korea- Central Asia Initiative, also known as the K-Silk Road. Its programme includes efforts to secure the development of a trans-Korean railway (TKR) that would connect South Korea to the broader Eurasian Land Bridge, reducing overland shipping costs and boosting South Korea's export capabilities.
On the eve of the summit of the two presidents, Uzbekistan Railways signed an agreement with Hyundai Rotem for the purchase of electric trains.
Also on June 13, Uzbek Prime Minister Abdulla Aripov met with the heads of
a number of leading Korean companies who will participate in the business forum. One of those was Shin Dong Ba, chairman of major conglomerate Lotte Group. Discussions centred on expanding joint projects.
At the meeting with the president
of Exim Bank of Korea, Hee-sung Yoon, promising projects to expand cooperation in transport, green energy, mineral resources, education and medicine were discussed.
Aripov also held a meeting with the CEO of the Korea District Heating Corporation, Jeong Yongki. On the agenda were introducing cogeneration technologies and improving district heating systems, modernising existing plant and managing facilities according to the principles of public- private partnership (PPP).
On June 15, Yoon will visit the historic town of Samarkand on the ancient Silk Road.
Armenia is poised to exit Russian-led CSTO, says Pashinyan
Ani Avetisyan
Armenian Prime Minister Nikol Pashinyan has signalled that Armenia plans to exit the Russian-led Collective Security Treaty Organisation (CSTO) defence pact. During a parliamentary Q&A session, Pashinyan, responding to opposition heckling, confirmed that leaving the CSTO was inevitable but the timing has still to be decided.
Pashinyan accused CSTO members of aiding Azerbaijan in its attacks against Armenia and Nagorno-Karabakh.
Opposition MP Tadevos Avetisyan questioned the government’s role, prompting Pashinyan to assert that Armenian statehood was endangered due to its reliance on Russia and its CSTO ties.
An opposition MP shouted, "then leave it [the CSTO]!" to which Pashinyan replied: "We will leave", stressing the need for a sovereign, safe Armenia with defined borders.
Foreign Minister Ararat Mirzoyan later clarified that the exact timing of the exit remains undecided.
Even though Armenia is a member of CSTO and Azerbaijan is not, members of the defence pact did not come to Armenia's aid during Azerbaijan's invasion in 2020 or in subsequent attacks, and nor did they even criticise Baku.
Armenia has downgraded its military links with Russia, asking Russian troops to leave Yerevan airport. It has also
refused to take part in CSTO activities.
According to Article 19 of the CSTO Charter, members can withdraw after
a six-month notice period. Despite Pashinyan's threats, the country has not yet initiated withdrawal procedures.
Prime Minister Nikol Pashinyan at his last CSTO meeting in 2022. / bne IntelliNews
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