Meetings of the Business Councils “Central Asia-Republic of Korea” and “Turkmenistan-Republic of Korea” were held in Ashgabat

On November 2, 2023, within the framework of the 16th Cooperation Forum “Central Asia-Republic of Korea”, the 4th meeting of the Business Council “Central Asia-Republic of Korea” was held in the building of the Chamber of commerce and industry of Turkmenistan.

Delegations of relevant ministries, departments, business circles of Turkmenistan, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan and the Republic of Korea took part in the work of the representative forum. 

The subject of discussion was the prospects and possibilities of creating additional conditions for entrepreneurs and businessmen of the participating countries in order to strengthen trade and economic relations at the regional level, as well as proposals for enhancing the activities of this structure, including through the widespread use of digital technologies.

During the session work devoted to the topics “Investment climate in the field of digital transformation of industry and transport/logistics in the countries of Central Asia and mutual investment opportunities” and “Experience of Korean companies operating or wishing to enter the field of industrial digital transformation and transport/logistics in Central Asia ", an exchange of views took place on current issues of cooperation in the field of transport and logistics interconnectedness, the digital economy, as well as investment opportunities in terms of implementing joint projects and programs in these areas by the countries of Central Asia and the Republic of Korea.

The meeting participants stated that in recent years the dialogue in the “Central Asia – Republic of Korea” format has reached a qualitatively new stage of development. The practical implementation of the agreements reached within the framework of the Business Council gave a powerful impetus to the further deepening of relations between the Forum participating countries and the realization of the solid potential of the six-party partnership. A clear confirmation of the steadily growing interest of Korean businessmen in expanding their presence in the promising markets of Central Asia is the participation in the current Forum of managers and specialists of leading companies of the Republic of Korea - recognized world leaders in high technology. In this regard, the business circles of the Republic of Korea expressed their readiness to provide their latest scientific and industrial developments for the implementation of joint projects of national and regional importance.

In this regard, the importance of the activities of the Business Council in the context of developing an effective model of cooperation was emphasized.

In addition, the participants of the event were presented by the Secretariat of the CA-RK Cooperation Forum with a Report on the activities of the Business Council “Central Asia-Republic of Korea” for 2023 and proposals for the Work Plan for the coming year.

On the same day, the fifth meeting of the “Turkmenistan-Republic of Korea” Business Council was held, which was attended by heads and representatives of ministries and departments of Turkmenistan and the Republic of Korea, heads of large companies, as well as entrepreneurs and businessmen of the two countries.

In accordance with the agenda of the meeting, issues of development and strengthening of trade and economic cooperation between Turkmenistan and the Republic of Korea were considered. During thematic sessions, participants of the business forum discussed priority aspects of interaction and exchanged views on enhancing cooperation in the field of energy, digital economy, textile industry, healthcare, ecology, transport and communications sector, oil and gas complex, agriculture and water management, high technology, science and education, tourism, etc.

In this context, successful bilateral interaction was emphasized within the framework of the “Central Asia-Republic of Korea” cooperation Forum, the “Turkmenistan-Republic of Korea” Business council, the Intergovernmental Turkmen-Korean commission on trade, economic, scientific and technological Cooperation, the Interparliamentary friendship group "Republic of Korea-Turkmenistan".

The long-term nature of Turkmenistan’s interaction with leading Korean companies, with the participation of which joint projects for the construction of large production complexes have been implemented, was especially noted.

According to the general opinion of the participants of the business forum, the results of the meeting, at which a detailed exchange of views on the prospects of the Turkmen-Korean partnership took place, are designed to contribute to the achievement of concrete results for the further successful development of long-term mutually beneficial cooperation in a wide range of areas.