The results of the economic cooperation of South Korea and Kazakhstan were summed up in KOTRA, South Korean Agency for Trade Facilitation. According to the agency experts, in 2016, the emphasis in bilateral relations has shifted from raw materials and construction areas to production. At the same time, economists emphasize that the interaction will increase, and hence the forecasts for 2017 are optimistic. In many respects, this is due to Nursultan Nazarbayev’s visit to Seoul in November.
PARK JI WON, RESEARCH FELLOW, KOTRA:
Due to the memorandums signed during Nursultan Nazarbayev’s visit in Korea, cooperation in the industrial sector will be developed. Korean corporations are ready to invest in production facilities. In addition, next year Kazakhstan plans to increase the production of raw materials, due to the expected rise of the country’s economy and as a consequence of the increase in trade between our countries.
The two most promising areas of cooperation between Kazakhstan and the world financial center are food and logistics, according to the deputy director of the Hong Kong Trade Development Council, Raymond Yip. According to the economist, organic products from Kazakhstan would be in demand in the Hong Kong market that consumes food worth over $20 billion annually. Therefore, the expert says, countries need to establish mutual cooperation.
RAYMOND YIP, ASSISTANT EXECUTIVE DIRECTOR, HK TRADE DEVELOPMENT COUNCIL:
Historically Central Asia is the bridge between the Asia and Europe. This is already historical road. And now under this power of initiative proposed by China I think this road is going to revive and strengthen. And become even more important, because Asia and Europe are too very large economics.
Kazakhstan and Uzbekistan will renew road connections on M-39 highway. Negotiations in this regard were held in southern Kazakhstan. The road is now being reconstructed. The works are planned to be completed in February. Moreover, a special post will be built at the border area. According to the parties, this will strengthen the relations between the two countries and boost further development of trade and tourism.
ILHOM NEMATOV, AMBASSADOR AT LARGE, UZBEK FOREIGN MINISTRY:
We came with a noble mission to discuss a possible renewal of the movement on the highway M-39. In 1998, we signed a bilateral agreement on the use of M-39’s 24.3 km. In the near future we will open the road, and resume the traffic.