Launch of
Public-Private Central Asia Economic Cooperation Commission
-Expanding exports to and investment in Central Asia as well as exchanges of entrepreneurs between two countries are expected-
The Korea
International Trade Association (Chairman, Han Duck-soo) launched
“Public-Private Central Asia Economic Cooperation Commission” with the
government agency and major economic organizations such as the Ministry of
Trade, Industry and Energy, the Korea Chamber of Commerce and Industry and the
Federation of Korean Industries at Trade Tower in Samseong-Dong on September 2
in order to expand and replenish the infrastructure of economic cooperation in
the Central Asia which is highlighted as the second Middle East. In the event,
150 political figures and business people including, Yoon Sang-jik, Minister of
Trade, Industry and Energy, Han Duck-soo, Chairman of the KITA and CEOs of
companies entering into Central Asia.
Central Asia Economic
Cooperation Commission plans to operate it by allocating countries to cooperate
to each economic organization. The KITA will take care of Turkmenistan and
Azerbaijan, the Korea Chamber of Commerce and Industry will manage Uzbekistan,
Kyrgyzstan and Tajikistan and the Federation of Korean Industries will work
with Kazakhstan. The KITA will also take on the secretariat of commission.
Each country’s
economic cooperation commission will collect the difficulties that the working
council of companies entering into the other country experience. The collected
information will be used as the recommendations to deliver to the relevant
authorities of both sides after the in-depth review of advisory organizations
such as the Korea Institute for International Economic Policy and the Korea
Industry and Technology Institute.
Central Asia Economic
Cooperation Commission was launched as the cooperative climate was created by
the summit diplomacy last June and each country in Central Asia strongly
desired for the introduction of Korean development model in order to get away
from its own economic structure which was limited to the energy development.
Han Duck-soo,
Chairman of the KITA said “Central Asia Economic Commission Secretariat is
planning to host regular business forum and B2B consultations with the
public-private Central Asia Economic Commission through the organic cooperation
with the working council of each country as well as the advisory committee of
each field.” He added “The Commission is expected to take roles as the bridge
and leverage for the public and private partnership by supporting a variety of
business activities including resolving Korean companies’ difficulties as well
as providing market information.”
The KITA will host
working council of each country and advisory committee of each field in Korea.
Besides, the KITA is planning to proceed procedures to operate the Economic
Cooperation Commission such as signing the MOU with the Turkmenistan Chamber of
Commerce and Azerbaijan Chamber of Commerce on the spot sometime in October.
