Kazakhstan, South Korea sign documents covering projects worth about $3.5 B

Business Materials 22 April 2019 15:21 (UTC +04:00)

Baku, Azerbaijan, Apr. 22

By Fakhri Vakilov – Trend:

South Korean President Moon Jae-In and Kazakh President Kasym-Zhomart Tokayev signed documents covering projects worth about $3.5 billion, Trend reports referring to Kazakh mass media.

At the ceremony, President Kasym-Zhomart Tokayev noted that Kazakhstan is interested in introducing Korean innovative technologies into the country's economy.

"We have signed documents that cover about $3.5 billion. Mr. Moon Jae-In and I agreed to speed up the work of the Intergovernmental Commission on Trade, Economic, Scientific and Technological cooperation. The agreement on opening a Kazakh-South Korean international IT center in the city of Nur-Sultan (former Astana) is an important step in this direction," Tokayev said at press-conference in Presidential Residence Akorda.

Tokayev emphasized that the talks were focused on deepening cooperation in the field of transport and infrastructure. According to him, the issues related to the development of transit-transport routes between Kazakhstan and South Korea were also discussed.

“We reached understanding on the use of the capabilities of the existing Kazakhstani terminal in the port of Lianyungang (China) by the South Korean side. We also considered the issue of enhancing the interaction of our banks and financial institutions, as this will stimulate the capabilities of small and medium-sized businesses in our countries," Tokayev noted.

The head of Kazakhstan offered a colleague to step up the activities of financial institutions and business circles in South Korea at the site of the "Astana" international financial centre. This will allow to provide a regional platform for the entry to the Central Asian market, Tokayev underlined.

This is the first state visit of South Korean President Moon Jae-In to Kazakhstan.

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