Busan-Kazakhstan Logistics Forum was Held in Astana

Busan-Kazakhstan Logistics Forum was Held in Astana

On September 21, 2022, the Busan-Kazakhstan Logistics Forum was organized in Astana as part of a working visit of the Korean delegation chaired by the Busan Economic Development Agency (BEPA) with the support of "NC "KAZAKH INVEST" JSC. The event was attended by representatives of state bodies and business communities of the two countries. The forum was held on the topic "Actual issues of logistics cooperation between Central Asia (Kazakhstan) and South Korea (Busan)".

The purpose of the visit of the Korean delegation is to get acquainted with the transport and logistics potential of the Central Asian countries for the development of transport routes from Korea to European countries.

During the forum, the Korean side announced its desire to transport products to the EU countries through the countries of Central Asia. Thus, Jin Young Hyun, Head of BEPA, stressed that the changing international situation increases the relevance of diversifying transport routes for the world.

In turn, the Kazakh side, noted about the importance of holding this event, and spoke about the prospects for the development of the land route in Kazakhstan.

Yerlan Zeineshev, Deputy Chairman of the Board of the Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan, said that over the past year, trade between the two countries has increased, amounting to more than $3 billion in June. Also, the inflow of foreign direct investment from Korea to Kazakhstan has increased over the past 10 years and has amounted to about $4.7 billion.

Azamat Abdualiyev, Deputy Head of the Department for Investment and Entrepreneurship Development in Astana, noted that about 500 legal entities with the participation of Korean capital operate in Kazakhstan, while projects of such leading Korean companies as KIA, Dongil Construction etc. are currently being implemented in Astana.

Zeinolla Akhmetzhanov, Deputy Director of Transport Policy and Infrastructure of the Ministry of Industry and Infrastructure Development of the Republic of Kazakhstan, noted that Kazakhstan has a high institutional capacity in the field of strategic infrastructure planning compared to neighboring countries. Special attention was paid to the infrastructure development strategy of Kazakhstan "Nurly Zhol", aimed at using the dynamics of such regional initiatives as "One Belt - One Road" and Central Asian Regional Cooperation.

In response, Jo Sam Hyun, professor at Dong Eui University, Department of Logistics and Distribution, spoke about the status of the Busan-Central Asia transport route and offered cooperation to Kazakh companies in the development of logistics routes.

The second part of the forum was opened by private companies from the two countries, who presented their capabilities and spoke about specific steps taken in the countries as part of the development of trade routes.

From the Korean side, representatives of such leading transport and logistics companies as World Road express co., LTD, Unico Logistics made a presentation about their company.

In turn, AzizkhanKudabayev, Project Manager of the Task Force Department of national company KAZAKH INVEST, introduced the support of the Government of Kazakhstan in investment activities. Among other things, the main conditions for concluding investment contracts were announced: a model investment contract and an investment agreement. At the end of his speech, Korean investors were invited to consider the possibility of participating in promising projects in the field of infrastructure and transport and registration at the site of the Astana International Financial Center.

At the end of the event, a question and answer session, discussion and exchange of experience between the companies took place. It is planned that this event will become a regular dialogue platform between the two countries on the joint development of transport and logistics projects in Kazakhstan.

The Korean delegation further plans to visit the logistics facilities of Kazakhstan: FEZ "Astana-New City", FEZ Khorgos, as well as other facilities of the logistics complex of the Kazakh-Chinese border.

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