BAKU, Azerbaijan, September 16. Kazakhstan
President Kassym-Jomart Tokayev has proposed launching a
Partnership for Industrial and Technological Development "Central
Asia - Korea" to promote industrial cooperation, technology
transfer, and localization of production.


According to the press service of the Kazakh president, Tokayev
made the proposal during the first Central Asia - Republic of Korea
Summit, where he presented his vision for further development of
multilateral cooperation.


He identified trade, economic and investment cooperation as the
first priority.


"Last year, trade between Central Asia and Korea exceeded $10
billion for the first time. Kazakhstan accounts for about half of
the region's total trade turnover. Seoul is among the top 10
trading partners of our country and ranks ninth among the largest
investors, with gross investment exceeding $12 billion. More than
1,000 joint ventures with Korean capital operate in Kazakhstan.
Leading companies such as Kia, Hyundai, Doosan, Posco, Samsung,
Lotte and Hanwha have been successfully operating in the Kazakh
market for many years," Tokayev said.


He added that today, bilateral cooperation is reaching a new
level. During the visit, commercial agreements worth about $19
billion were signed. The president emphasized that Kazakhstan would
continue creating all necessary conditions for Korean companies to
operate in the country.


According to Tokayev, the Altyn Visa program, which facilitates
the long-term presence of investors in Kazakhstan, serves this
purpose.







"Significant potential that requires further deepening of
economic cooperation exists in the industrial sector. A good
example is the KIA Qazaqstan plant launched in Kazakhstan last
year, with a capacity of 70,000 vehicles per year. A full-fledged
cluster is being formed around the enterprise," Tokayev said.


He also welcomed the first meeting of the Ministers of Industry
of the Central Asian countries and the Republic of Korea.


"To develop this initiative, we propose launching the
Partnership for Industrial and Technological Development 'Central
Asia - Korea'. Within this mechanism, our governments could form a
portfolio of flagship joint projects, focusing on localization of
production, technology transfer, development of regional
cooperation and exports of finished products to third-country
markets," Tokayev said.


He expressed confidence that the Central Asia - Korea Business
Forum would make a significant contribution to this process.