President Kassym-Jomart Tokayev made a video address to the International Forum on Northern Economic Cooperation - 2020. The event, held under the theme "Global Changes after COVID-19 and the Future of Northern Economic Cooperation", opened today in Seoul, Kazpravda.kz refers to the Akorda press service reporting.
Praising the New North Policy strategy initiated by President Moon Jae-in, which has repeatedly proved its relevance and viability over the past three years, Tokayev welcomed the visionary approach of the South Korean leader to building a more prosperous, interconnected and stable Eurasia.
According to the President of Kazakhstan, at a time when the world is faced with the unprecedented challenges of the coronavirus pandemic, the synergy of political will and economic prudence is of critical importance.
Speaking about the Kazakh-South Korean strategic partnership based on common values, mutual support and close ties between people, Kassym-Jomart Tokayev noted the contribution of the hundred-thousand Korean community of Kazakhstan, which serves as a "golden bridge" of friendship between the peoples of the two countries.
"Korean investments in the Kazakh economy surpassed $ 7 billion. Despite the global turbulence, bilateral trade has shown steady growth. It should be noted that Kazakhstan accounts for 70% of the overall GDP of all five Central Asian states. Korea is in 10th place among the leading investors. Thus, there is a huge untapped potential for further building up our mutually beneficial cooperation, "the President believes.
The historic visit of Moon Jae to our country in April 2019, he stressed, opened a new chapter of bilateral cooperation. The Fresh Wind program signed during this visit is aimed at enhancing the comprehensive Kazakh-Korean economic, trade and cultural ties.
In this context, Tokayev stated that the Fresh Wind program and the New Northern Policy strategy correspond to the strategic objectives enshrined in national programs, including Digital Kazakhstan and Nurly Zhol.
Pointing to the imminent end of a long oil supercycle in the world, the President underscored the paramount importance of building a diversified and sustainable economy for Kazakhstan.
“That is why I initiated the New economic course. It is not only about structural reforms, but also building of a more dynamic and stronger nation”.
Kazakhstan is ready to propose tools specially developed for Korean investors, including tax and customs preferences, co-financing of projects, partial guarantees and export support mechanisms, the President said.
He also dwelled on the potential of the Astana International Financial Center, based on the English common law, highlighting the uniqueness of its ecosystem for foreign business.
Kassym-Jomart Tokayev wished the forum participants a fruitful work, and good luck and success to the President and the Government of South Korea in their noble endeavors.
