Trade turnover of Kazakhstan, South Korea up by nearly 2 times
Baku, Azerbaijan, September 17
By Nargiz Sadikhova - Trend:
Korea is one of the prioritized countries for Kazakhstan and its second largest trading partner in Asia, Trend reports with reference to the press office of the Ministry of Foreign Affairs of Kazakhstan.
This became known during the meeting between Minister of Foreign Affairs of Kazakhstan Beibut Atamkulov and Minister of Trade, Industry and Energy of South Korea Sung Yun-mo, which was held within the visit of Atamkulov to South Korea. At the meeting, special attention was given to trade, economic, investments and technological cooperation and
“Active growth of trade turnover and investments cooperation is a sign of high level of integration. The value of trade turnover between the countries amounted to $4 billion in 2018, and $2.7 billion during 1H2019, which is almost two times more than last year,” Atamkulov said.
During the meeting, the Korean party has been briefed on policy of improvement of investments climate in Kazakhstan and has been invited to actively participate in economy of the country. As reported, during the period from 2005 to 2019, Korea has invested over $5.3 billion in economy of Kazakhstan.
The parties also discussed in detail the issues of activities of working group on implementation of ‘Fresh Wind’ program, which has been signed during the visit of President of South Korea Moon Jae-In to Kazakhstan.
First meeting of the group is to be held in the end of September in Nur-Sultan.
Furthermore, Atamkulov also held a number of meetings with representatives of South Korean business, including the leadership of Kolon, Samsung Electronics, Doosan Heavy Industry, Hyosung Corporation Group and Hyundai Heavy Industries. Korean businessmen noted high potential of investments cooperation in areas such as mechanical engineering, ICT and petrochemistry.
(1 USD = 385.16 KZT on September 17)
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