Deposit Guarantee Agency in Uzbekistan seeks cooperation with German bank compensation system

Uzbekistan and the Korea Infrastructure Investment Corporation (KIND) held discussions on establishing a joint investment company and financing infrastructure projects.

The meeting took place on October 21 between Ibragim Ergashov, Deputy Minister of Investments, Industry, and Trade of Uzbekistan, and a delegation from South Korea.

The parties reviewed potential areas for cooperation, including airport modernization, smart city development, and road infrastructure.

Particular attention was paid to mechanisms for attracting investments, expanding financial cooperation, and defining priority areas for joint ventures.

Following the negotiations, participants agreed to intensify work on creating the investment company, study financing options for promising projects, and continue discussing practical ways to implement them.

Uzbekistan has put forward a proposal to develop strategic cooperation with the United States in the field of critical minerals. This partnership should cover stages from geological exploration and raw material processing to the formation of local industrial clusters.

Foreign Minister Bakhtiyor Saidov announced this initiative during a ministerial meeting in the 'C5+1' format held in Samarkand. According to the Foreign Minister, successful implementation of such cooperation requires combining Central Asia's vast natural resources, developing markets, human potential, and favorable geographical location with American investments, technologies, and business experience.

Saidov also emphasized that Central Asia is transforming into a more consolidated region capable of independently shaping its own future and actively participating in global processes. He named strengthening economic ties, implementing advanced technologies, attracting investment, and expanding access to world markets as key areas for further interaction.

Furthermore, the minister highlighted that the stability and prosperity of Central Asia serve the interests of both the countries of the region and their international partners. During this meeting, Uzbekistan assumed co-chairmanship of the 'C5+1' secretariat, and Saidov stated his intention to ensure the continuity of current work and achieve tangible results on previously reached agreements.

The Foreign Minister noted the symbolism of choosing Samarkand for the meeting, as this is where the first 'C5+1' ministerial meeting took place in 2015. Over the past period, the agenda of the format has significantly expanded, and the mechanisms of interaction between the parties have strengthened.

Bakhtiyor Saidov expressed confidence that this meeting will be an important step towards deepening ties between Central Asia and the United States, which will allow mutual advantages to be transformed into long-term partnerships that bring real benefits to the populations of the countries.

It should also be noted that in Samarkand, Bakhtiyor Saidov and US Secretary of State Marco Rubio signed the 'Artemis Accords' regarding peaceful space exploration. Thanks to this, Uzbekistan became the 77th country to adopt this document, which establishes the principles of international cooperation in the study of the Moon, Mars, and other celestial bodies.