The President approved the Agreement between the government of the Republic of Uzbekistan and the government of the Republic of Korea on mutual promotion and protection of investments, signed on April 19, 2019 in Tashkent.
Such instruments generally provide for the comprehensive legal protection of the investments of the Contracting countries, including the prohibition of their expropriation or nationalization, freedom to transfer payments, compensation for damage caused to investors and the procedure for resolving disputes between the state and the investor.
The Ministry of Foreign Affairs of Uzbekistan will send the relevant notification to the Korean side on the implementation of domestic procedures necessary for the entry into force of the Agreement.