Kazakhstan, South Korea to implement over 40 joint projects
Baku, Azerbaijan, Sept.27
By Nargiz Sadikhova – Trend:
Kazakhstan continues to be one of the main trading partner of South Korea in Central Asia, Vice Minister of Industry and Infrastructural Development of Kazakhstan Timur Toktabayev said, Trend reports with reference to the press office of the ministry.
Thus, the value of trade turnover between countries amounted to $3.5 billion during January-July 2019, including export worth $1.7 billion and import worth $1.8 billion.
This became known during the first meeting of the working group on implementation of agreements made within the framework of the inter-governmental commission and the visit of the President of South Korea Moon Jae-in to Kazakhstan, as well as the implementation of the Fresh Wind program implementation.
Toktabayev noted that currently there are over 500 ventures operating in Kazakhstan with participation of South Korean capital.
“Today Kazakhstan is ready to export over 40 types of products to South Korea, including products of metallurgy, chemical industry, food industry, petrochemistry. We are ready to form a working group on increase of trade turnover, for search of new ways to strengthen our mutually beneficial cooperation,” the vice minister noted.
According to the information, South Korea is one of the largest investors of Kazakhstan. Over the course of last 13 years the value of direct investments of South Korea to Kazakhstan amounted to $5.5 billion, whereas the value of Kazakh investments to South Korea equaled $2.2 million.
“Some 41 joint investment projects worth $4.6 billion are being launched by our countries,” Toktabayev said.
Furthermore, during the meeting Toktabayev proposed to consider the possibility of joint funding of separate projects on the territory of Central Asia, activate implementation of existing Kazakh terminal in Lianyungang port of China, expand cooperation within the Kazakh Nurly Zhol state program.
The implementation of these goals will allow to bring bilateral cooperation to the new level and will create favorable conditions for business of two countries in the near future.
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