Results of cooperation between Kazakhstan and South Korea

The South Korean Trade and Investment Promotion Agency summed up the results of economic cooperation with Kazakhstan in 2017. In 12 months, South Korea exported goods worth $5 billion, Kazakhstan - twice as much. The South Korean exports are dominated by machinery and cars, and Kazakhstan mainly sells oil and nuclear fuel. Kazakhstan is South Korea’s second largest trade partner in the CIS after Russia.

PARK JI WON, RESEARCHER, KOREA TRADE-INVESTMENT PROMOTION AGENCY:

 - In 2017, the share of oil exports from Kazakhstan to South Korea increased by 30 percent compared to other goods. At the same time, South Korea is going to continue increasing the volume of oil imports. This is due to acceptable oil prices and flexible policy of Kazakhstan’s government.

Diplomats have summed up the results of bilateral cooperation for 12 months. According to Ambassador of Kazakhstan to South Korea, Dulat Bakishev, and his colleague Kim Dae-Sik, several important events took place in 2017 that positively affected relations between official Astana and Seoul. The new president was elected in South Korea. Kazakhstan became a non-permanent member of the UN Security Council; Astana hosted the international exhibition EXPO 2017, and the two countries marked the eightieth anniversary of the Koreans living in Kazakhstan. Diplomats believe that the visit of South Korean President to Kazakhstan will strengthen bilateral cooperation in 2018.

DULAT BAKISHEV, KAZAKH AMBASSADOR TO REPUBLIC OF KOREA:

 - 2017 was good for bilateral relations. A new government has come to power in South Korea, new projects are being discussed.

KIM DAE-SIK, KOREAN AMBASSADOR TO KAZAKHSTAN:

 - President Moon Jae-in is planning to visit the countries of Central Asia in 2018. We hope that it will become the basis for the development of new relationships in such areas as IT, electronics, construction, healthcare, education and human resources. The economy of Kazakhstan is growing from year to year. I think that it will grow creating a favorable economic environment next year.