(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, October 6. Uzbekistan's Agency for the Development of the Pharmaceutical Sector held a meeting with a delegation from South Korea's Sang-A Pharmaceutical to discuss potential investment and collaboration opportunities, Trend reports.

During the meeting, the Agency's Director, Abdulla Azizov, presented the“Tashkent Pharma Park” pharmaceutical cluster project, providing detailed information on the favorable conditions for investors, available incentives, and sectoral opportunities.

The Korean delegation had their ears to the ground and showed a strong desire to dive into the possibility of setting up production facilities for biologically active supplements (BAS) in the pharma cluster, with an eye on future exports to Central Asian countries.

In addition, Sang-A representatives delivered a presentation on their business operations and product portfolio. The Agency also recommended exploring the cosmetics manufacturing sector, highlighting that the Uzbek market currently lacks large-scale producers in this segment.

At the conclusion of the meeting, the delegation indicated their plan to construct a modern manufacturing facility comparable to Korean production standards, leveraging the Agency's support and the opportunities offered by the cluster.

In the interim, the bilateral trade volume between Uzbekistan and South Korea escalated to $1.1 billion during the period from January to August 2025, constituting 2.2 percent of Uzbekistan's aggregate foreign trade metrics. South Korea remains a pivotal player in the strategic trade landscape for Uzbekistan. Throughout this timeframe, it positioned itself as the fifth-largest contributor within the nation's primary trading partners, highlighting the enduring significance of bilateral economic dynamics between the two countries.

Pharmaceutical firms in Uzbekistan are seeing substantial expansion, propelled by rising local demand, governmental backing via policies and investments in clusters such as the Tashkent Pharma Park, and an emphasis on both generic and creative medicine manufacturing. The sector is appealing for foreign investment, fostering collaborations with global pharmaceutical companies. Initiatives are in progress to conform to WTO criteria for exports and to enhance local capabilities, encompassing clinical trials and API production, to establish Uzbekistan as a pivotal regional center for pharmaceutical products.

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