Bishkek hosts Second Kyrgyz-Korean Business Forum

By Nurzhan Kasmalieva

BISHKEK: Bishkek hosted the Second Kyrgyz-Korean business forum in the field of textile and light industry, organized by the Ministry of Economy and Commerce together with the Ministry of Foreign Affairs of Kyrgyzstan and the government of the Republic of Korea.

The meeting was attended by representatives of state bodies of Kyrgyzstan represented by Deputy Minister of Economy Ainura Usenbekova, Kyrgyz Ambassador to the Republic of Korea Aida Ismailova, as well as the heads of the Korea Institute for the Development of Technology (KIAT), the Institute of Dye and Design Technologies (DYETEC) and representatives of business circles of the two countries.

The purpose of the event was to strengthen the understanding of the textile industry of the parties, promote mutual exchange and strengthen cooperation.

Speaking at the forum Deputy Minister of Economy and Commerce of Kyrgyzstan Ainura Usenbekova said that the development of a strategic partnership with the Republic of Korea and maintaining the positive dynamics of bilateral cooperation is a constant course of the Kyrgyz Republic.

“Kyrgyzstan and Korea are connected by close ties of cooperation, both in trade and economic, and in social and humanitarian spheres. The two countries are actively developing their relations at various levels,” she said.

The deputy minister noted that the Intergovernmental Kyrgyz-Korean Commission on Economic Cooperation, the chairman of the Kyrgyz part of which is Minister of Economy and Commerce of the Kyrgyz Republic Daniyar Amangeldiev, has become an effective platform for determining the prospects for cooperation, exchanging views and enhancing bilateral cooperation.

“To date, five meetings of the Commission have been held, the main achievements of which were the measures taken to develop the legal framework for cooperation, enhance interaction, both at the intergovernmental level and through the business structures of the two countries, the implementation of infrastructure and social projects in the Kyrgyz Republic, projects grant and technical assistance, the establishment of direct flights, the participation of the Korean side in the digital transformation of the republic, cooperation in the field of green economy, industry, energy, tourism and sports,” the Kyrgyz official stressed.

Noting that the Second Kyrgyz-Korean Business Forum is a logical continuation of the first joint forum held last year in Bishkek, Usupbekova said that the number of participants has increased significantly, which indicates a high interest in partnership.

Similar events will be held on a regular basis and the next business forum is proposed to be held in the Republic of Korea, she added.

“Kyrgyzstan attaches great importance to the development of cooperation with the Republic of Korea, which occupies one of the leading positions among the developed countries of the world,” the official said.

First Secretary of the Embassy of the Republic of Korea in Kyrgyzstan Yoo Jusing, in her speech expressed hope that the active arrival of Korean companies in Kyrgyzstan will lead to an increase in trade between the two countries.

“The textile industry, which is the scope of today’s forum, will serve as an opportunity to promote joint activities between the two countries and contribute to the development of the economy of Kyrgyzstan,” she said.

In conclusion, the sides noted that both countries have great potential for expanding cooperation in various fields and such meetings will give a new impetus to the further development of interaction.

At the end of 2022, the trade turnover of the Kyrgyz Republic with the Republic of Korea amounted to $157.6 million and doubled compared to 2021, including exports – $1.1 million with an increase of 183%, and imports in the amount of $156.5 million with positive dynamics by two times.