Kazakhstan, Astana, May 12 / Trend , K.Anirova /
President of the Republic of Korea Lee Myung Bak will make an official visit to Kazakhstan from 12 to 14 May, the press service of the Foreign Ministry of Kazakhstan said.
"During his visit, Lee Myung Bak is supposed to meet with the President of Kazakhstan Nursultan Nazarbayev, with the heads of several government agencies and representatives of business circles of Kazakhstan to discuss the further development of bilateral relations in various spheres," the press service said.
Also there are plans to sign several bilateral documents, the President of Korea is expected to attend the Kazakh-Korean business forum, as well as the adoption of a plan of action for the development of bilateral relations between Kazakhstan and Korea.
Since the establishment of diplomatic relations in January 1992, the Kazakh-Korean political dialogue has been developing dynamically.
According to the Foreign Ministry of Kazakhstan, South Korea takes one of the leading places in the system of foreign economic priorities of Kazakhstan, a major investor and stable trade partner.
In 2008, bilateral trade turnover amounted to $754.1 million (2007 - $ 843.3 million) including export - $330.8 million ($ 217.4 million), import - $ 423.3 million ($ 625.9 million). The turnover decreased 10.5 percent as compared to the same period of 2007.
Kazakhstan's main exports are raw materials (uranium, ferro alloys, rolled non-alloy steel and iron, gold, copper). The structure of import include electronics, equipment and other engineering products.
According to the National Bank of Kazakhstan, for the period from 1993 to 2008, gross inflows of direct investment from Korea to Kazakhstan reached $ 3 billion (3.6 percent of total investment). In its turn, the Kazakh investment in Korea amounted to $ 66.7 million
More than 300 joint ventures function in Kazakhstan with the participation of Korean companies.
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