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Uzbekistan proposes to combine integration initiatives of EU, China and Korea

08 November 2018 [15:15] - TODAY.AZ

By  Trend

Uzbekistan proposes to discuss the conjugation of the South Korean “New Northern Policy” strategy, China’s “One Belt - One Way” initiative and the EU’s strategy to improve the interconnection of Europe and Asia, quoted Vladimir Norov, the Director of the Institute for Strategic and Regional Studies (ISRS) under the President of Uzbekistan, during a speech at the International “Forum Korea-Asia 2018” Conference in Seoul.

The expert said the access to international seaports is extremely important for Uzbekistan and other Central Asian countries.

“According to estimates by the Boston Consulting Group company, Uzbekistan loses up to 20 percent of GDP due to the geographical isolation of the region, because the transport and transit costs reach 70-80 percent of the value of the exported products. Moreover, the carriers lose up to 40 percent of the time for transportation of goods due to imperfections in customs procedures,” Norov said.

He also added that Uzbekistan considers the “New Northern Policy” strategy put forward by South Korea to be very relevant and regards it as an important contribution to the revival of the once existed ancient Great Silk Road under the new modern realities.


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