ASTANA, Kazakhstan, October 24. Trade turnover between Kazakhstan and South Korea from January to August 2023 increased by 11 percent compared to the same period last year, said Prime Minister of Kazakhstan Alikhan Smailov during a meeting with the Minister of Trade of South Korea Ahn Duk-geun, Trend reports.
As he noted, the government of Kazakhstan sees great prospects for the further development of trade and economic cooperation with South Korea.
"This, in particular, is supported by the dynamic growth of trade turnover: last year it grew 2.3 times and exceeded $6.1 billion, and over the 8 months of this year it increased by another 11 percent," he said.
The Prime Minister believes that Kazakhstan and South Korea need to make joint efforts to expand their range of mutual trade.
"An important instrument here is the Kazakh-Korean Intergovernmental Commission in the fields of trade, economics, science, and technical cooperation. I believe it would be advisable to intensify its activities and hold another meeting in the near future," the PM added.
Trade turnover between Kazakhstan and Korea in 2022 amounted to $6 billion. The total investment of Korean companies in the economy of Kazakhstan exceeded $8 billion. Thus, South Korea is among the top 10 major investors in Kazakhstan.
Today, more than 700 Korean companies and joint ventures operate in Kazakhstan.