KITA News and Reports
  • KITA Signed MOU with Uzbekistan for Establishing and Promoting Digital Trading Platform
    2017-11-28

    KITA Signed MOU with Uzbekistan for Establishing and Promoting Digital Trading Platform

     

    The Korea International Trade Association (Chairman, Kim Young-joo) and the Korea Trade Network (KTNET) (President, Han Jin-hyun) signed a Memorandum of Understanding (MOU) with UZ Trade* of Uzbekistan for cooperation in the field of national electronic trade at the Trade Tower in Samseong-dong, Seoul on November 23, Thursday. This agreement is designed to spread the digital trading platform of Korea, which is regarded as the best in the world, to Uzbekistan, the largest trading partner in Central Asia. 

    *UZ Trade: An agency dedicated to National e-Commerce under the Ministry for Foreign Trade of the Republic of Uzbekistan

     

    While officials from private and public e-trade sector in Korea and Uzbekistan participated in the event, Kim Jung-kwan, vice-chairman of the Korea International Trade Association, Han Jin-hyun, president of the Korea Trade Network, and Sharof Rakhmanov, chairman of the UZ Trade attended the ceremony.

     

    The event was carried out as part of the follow-up to the "Agreement between Ministry of Trade, Industry and Energy of the Republic of Korea and Ministry for Foreign Trade of the Republic of Uzbekistan Concerning Cooperation and Collaboration for Implementation of Uzbekistan National e-Trade Platform" which was signed on November 22 at a summit meeting with the President of Uzbekistan, who visited Korea on the 25th anniversary of diplomatic ties between Korea and Uzbekistan. Through the agreement, it is expected to contribute to the practical and rapid implementation of Uzbekistan National e-Trade Platform through the establishment of public-private cooperation channels.

     

    Through the agreement, it is expected to significantly contribute to the practical and rapid implementation of Uzbekistan National e-Trade Platform through the establishment of public-private cooperation channels.

     

    The three organizations who signed the Memorandum of Understanding will select ‘tradeKorea’, a global B2B e-marketplace operated by the Korea International Trade Association and 'uTradeHub', an electronic trade portal run by the Korea Trade Network as standard models and carry out a variety of cooperation activities such as mutually sharing management knowledge about national e-trade as well as national e-commerce and making efforts to increase the number of subscribers of e-commerce platforms in both countries. 

     

    Cho Hak-hee, the head of e-Biz services group at KITA stated When the digital trade platform which connects Korea and Uzbekistan is activated through this business agreement, it is expected that trade between the two countries will be further expanded.

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