AKIPRESS.COM - UzSungwoo, an Uzbek-South Korean joint venture producing auto parts for new models manufactured by GM Uzbekistan, has started exporting its products to Brazil, Trend reports.

The relevant agreement was signed in August 2014 with the Brazil's General Motors do Brasilia LTDA.

The first export of auto parts was reportedly carried out in late December 2014.

UzSungwoo was created in April 2011 on a parity basis by the UzAvtoSanoat (state car company) and the South Korean Sungwoo Hitech Co., Ltd. with an authorized capital of $14 million. Its design capacity stands at 125,000 sets of parts annually.