• KITA-5 Chambers of Commerce Established “Korea-Central Asia Economic Council”
    2020-06-29 hit 2206

    KITA-5 Chambers of Commerce Established Korea-Central Asia Economic Council

    -  Agreed to promote exchanges and cooperation between countries by building multilateral economic cooperation platform  -


     The Korea International Trade Association (Chairman: Kim Young-ju) launched Korea-Central Asia Business Councilwith five Chambers of Commerce at COEX in Samseong-dong on June 29th and signed Memorandum of Understanding (MOU) for the establishment and operation of the organization via online video conference.



    Launching of the body is a follow-up of the 12th Korea-Central Asia Cooperation Forum that took place in Kazakhstan in October last year. The Korea International Trade Association from Korea, the Chambers of Commerce from Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan, and the International Chamber of Commerce from Kazakhstan participated in the event. The Korea-Central Asia Cooperation Forum Secretariat will be in charge of the operation of the organization.



    Chairman Kim Young-ju of KITA said, Since the government pushed for the New Northern Policy in 2017, trading between Korea and the five Central Asian countries has been increasing by 50 to 60 percent every year, and added, I would like to see the Korea-Central Asia Business Council work as a platform that enriches and develops economic cooperation and exchanges between the countries.


    Deputy Minister for Political Affairs Kim Gunn stated, I think it is meaningful that the council has come to fruition despite the situation in which exchanges are difficult due to the spread of COVID-19," and also mentioned, The government will also actively support various discussions on cooperation projects.


    Ambassadors from five countries in Korea also attended the event to celebrate the launch of the council. The participants agreed to support networking of business people and regularly hold one-on-one business consultations, forums, and international events. They also pledged to take the lead in practical economic cooperation.


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