Kazakhstan and South Korea Strengthen Cooperation in Field of Trade

Seoul, August 14, 2023 – Ambassador of the Republic of Kazakhstan to the Republic of Korea Nurgali Arystanov held a meeting with Minister for Trade of the Republic of Korea Ahn Dukgeun.

During the meeting, ways of further expanding bilateral trade and economic cooperation were discussed. The parties expressed satisfaction over the dynamic growth of trade between Kazakhstan and South Korea in recent years. For instance, according to Korean statistics, the two-way trade in 2022 reached the record highest level and amounted to 6.5 billion US dollars, having increased 2 times compared to the previous year. It should be noted that there is a positive dynamism in Kazakh exports, where the growth was 100%.

Also, issues of investment cooperation were discussed. Today, South Korea is the 6th largest investor in the Kazakh economy. Minister Ahn Dok Geun noted that one of the priorities of the Government of South Korea is the mobilization of the industrial sector and Korean companies in the international markets, including in Kazakhstan.

Following the meeting, the interlocutors agreed to maintain a dialogue on a regular basis.