The event was also attended by the President of the Republic of Korea Lee Jae Myung, the President of the Republic of Kazakhstan Kassym-Jomart Tokayev, the President of the Kyrgyz Republic Sadyr Japarov, the President of the Republic of Tajikistan Emomali Rahmon, and the President of Turkmenistan Serdar Berdimuhamedov.

Welcoming the participants of the business summit, the President of Uzbekistan noted with satisfaction that the Central Asia – Republic of Korea format is reaching a qualitatively new level.

The Head of State proposed building cooperation on the principle of complementarity of potential, so that Korean companies view Central Asia as a single space of opportunities, with a population of more than 80 million, growing demand, and significant resource, energy, and human potential.

Particular attention was paid to industrial cooperation and developing complete production chains in Central Asia, taking into account each country’s raw material base. For example, Uzbekistan has a mineral resource base estimated at no less than $3 trillion.

In the critical minerals sector, 120 projects worth more than $4 billion are planned for implementation in the coming years.

It was proposed to combine the region’s resource base with Korea’s financial and technological capabilities, focusing not on exporting raw materials but on deep processing and producing finished high-tech products.

Joint research, the introduction of advanced technologies, and personnel training were identified as key areas of cooperation. It was proposed that Korean companies, universities, and research centers in our countries be involved and that a unified partnership be established to develop new products with intellectual property rights.

Particular attention was paid to artificial intelligence, which is expected to generate at least $10 billion in added value across each country’s economy over the next five years. To this end, a hub for AI data centers offering substantial incentives has been established in Karakalpakstan. Korean companies were invited to invest in this sector.

Promising opportunities for collaboration in semiconductor and microelectronics manufacturing have been recognized. A joint Center for Semiconductor Design and Testing, Industrial Microelectronics, and New Materials is currently under development at the Future Technologies Center in Nurafshan.

Uzbekistan is ready to provide the conditions for Korean and Central Asian companies to establish research and development units and laboratories.

There is also significant potential to develop biotechnology and pharmaceuticals. Uzbekistan’s market for medicines and medical devices has already reached $3 billion. A biopharmaceutical cluster integrating research, clinical facilities, and production was proposed.

The main focus in this regard was on training specialists, including the launch of a region-wide program to train engineers and the arrangement of internships for them at laboratories and leading enterprises in Korea.

Korean companies were invited to participate in projects spanning copper processing, the production of electrical equipment, the localization of components for the automotive and electric vehicle industries, robotics and automation, biotechnology and pharmaceuticals, hydropower, energy storage systems, the modernization of power grids, and the development of transportation and urban infrastructure.