(Unofficial Translation)

Your Excellency President Tokayev, business leaders from Korea and Kazakhstan,

We have brought together the major economic players of our two countries who are paving a path toward recovery and reemergence beyond the COVID-19 crisis. Just as the power to fight back against COVID-19 lies in solidarity and cooperation, the success of economic reconstruction also hinges on how well we work together. I look forward to today’s meeting serving as an opportunity to cement our bilateral economic cooperation. 

Business leaders from both countries,

Since the establishment of diplomatic ties in 1992, our two countries have continued vibrant economic exchanges. Korea’s investment in Kazakhstan has increased to US$4 billion from US$2.1 million. Also, trade between us that had remained around a meager US$10 million exceeded US$4 billion in 2019. However, this is only the beginning. As our two countries have complementary economic structures and a common goal, cooperating more closely will create an even greater synergy.

Kazakhstan has achieved remarkable growth in the 30 years since independence by utilizing its abundant resources. With the aim of becoming one of the world’s top 30 advanced countries by 2050, the country is now striving to diversify its industries and push a transition to digital and green economies. Korea sharing its New Deal policies, economic development experience and technological prowess with Kazakhstan will add momentum to its new leap forward.

Korea can also further expand its economic horizon along with Kazakhstan. Located at the intersection of Europe, the Middle East and Asia, the country is now implementing its “Nurly Zhol” policy, which is spurring infrastructure construction for transportation, logistics, energy and industry. Combining this with Korea’s New Northern Policy would contribute not only to our two countries’ economic development but also to shared prosperity across Eurasia.

Korean businesses are participating in the construction of the Almaty Ring Road, the first public-private partnership project in Central Asia. The automobile plant in Almaty, a joint venture by businesses in the two countries, went into full-scale production this year, and a Korean manufacturer of PCR diagnostic kits has entered Kazakhstan and is helping with the response to COVID-19.

At the summit with President Tokayev this morning, we agreed to further strengthen cooperation in big data, 5G mobile telecommunications, biohealth, space development and other new industries. While improving the performance of the mid- to long-term Fresh Wind cooperation program, we concurred on expanding the scope of cooperation by signing MOUs related to water resource management and trade. I hope these will be of practical help to companies in both countries.

Business leaders from both countries,

Although Kazakhstan and Korea are far apart geographically, we have engaged in cultural exchanges along the Silk Road since way back in ancient times. As the value of solidarity and cooperation is now more precious than ever, I hope that our two countries’ businesses and governments will join hands and set off down a new Silk Road toward a future of mutual prosperity.

Thank you.