Astana: South Korea and Kazakhstan have explored opportunities to deepen their cooperation in energy and supply chains, as well as other sectors, during discussions on a potential comprehensive economic partnership agreement (CEPA) between the two nations, as reported by Seoul's ministry.
According to Yonhap News Agency, Industry Minister Kim Jung-kwan held discussions with his Kazakhstani counterpart, Yersaiyn Nagaspayev, in Astana during the 11th Korea-Kazakhstan joint committee on trade, economy, science, and technology cooperation. The meeting focused on advancing a bilateral CEPA to boost trade and investment while agreeing to strengthen energy cooperation, including crude oil supplies, amid the current volatility in the global energy market due to the Middle East crisis.
The discussions also covered expanding support for Korean automotive, electronics, and plant companies operating in Kazakhstan. South Korea pledged support for Kazakhstan's efforts to establish power infrastructure and upgrade aging power plants. Additionally, the two sides explored facilitating Korean firms' participation in Kazakhstan's urban development projects and enhancing cooperation in the digital economy and environmental sectors.
The Ministry of Trade, Industry and Resources stated that Kim also met with Kazakhstan Energy Minister Yerlan Akkenzhenov during his visit. Minister Kim emphasized the expansion of cooperation beyond traditional areas to include digital technology and eco-friendly industries.
"We will continue follow-up consultations on the issues discussed at the joint committee meeting and work to further strengthen bilateral economic cooperation, marking the inaugural Korea-Central Asia summit slated for September this year," Kim announced in a press release.
Following his visit to Kazakhstan, Minister Kim plans to travel to Europe with South Korea's President Lee Jae Myung, visiting France, Belgium, Italy, and the Vatican. He will also visit three Middle Eastern nations - Saudi Arabia, Qatar, and the United Arab Emirates - to expand South Korea's global outreach.