Opening the Door to Central Asia Exports... KOTRA Holds 'Korea-Central Asia Business Partnership'

Participation of 33 Central Asian Companies and Over 90 Korean Companies
B2B Consultations Yield Export Contracts Worth 14 Million Dollars

A large-scale business event was held to expand economic cooperation between Korea and the five Central Asian countries—Uzbekistan, Turkmenistan, Kazakhstan, Tajikistan, and Kyrgyzstan—on the occasion of their leaders’ visits to Korea.

KOTRA held a one-on-one export consultation at the "Korea-Central Asia Business Partnership" event on the 16th at the Westin Chosun Hotel in Seoul. KOTRA

The Korea Trade-Investment Promotion Agency (KOTRA) announced on the 17th that it hosted the 'Korea-Central Asia Business Partnership' at the Westin Chosun Hotel in Seoul on the 16th. The event brought together 33 major buyers and project owners from Central Asia, invited by KOTRA, along with more than 90 domestic companies, resulting in a total of 200 export consultation meetings.

The five Central Asian countries, which have a combined population of 80 million consumers, have recently recorded high economic growth rates ranging from 6% to 10%, driven by diversification of manufacturing and information and communication technology (ICT) industries as well as increased foreign investment.

The consultations yielded tangible results. In just one day, a total of 16 export contracts were signed, amounting to approximately 14 million dollars.

Domestic consumer goods company A signed an export contract worth 3 million dollars with a Kazakhstani buyer. In addition, CU, which operates 70 outlets locally in Kazakhstan, held a showcase at the event that received significant attention. CU representatives explained that about 80% of their products supplied to Central Asia are sourced from Korean small- and medium-sized enterprises (SMEs) and mid-sized companies.

A ‘Supply Chain Lounge’ was also operated to foster supply chain stabilization cooperation focused on key raw materials and components. Consultation sessions were held to discuss diversification of supply chains between major Central Asian suppliers and Korean companies. Relevant institutions such as the Export-Import Bank of Korea, Korea Institute of Geoscience and Mineral Resources, and Korea Mine Rehabilitation and Mineral Resources Corporation also participated to provide consulting support to the businesses.

At the development cooperation exhibition booth, cases from the Knowledge Sharing Program (KSP) were presented, such as the ‘Policy and Technology Recommendations for Modernization of District Heating’ project currently being promoted in Uzbekistan in collaboration with district heating corporations from both countries. These included consultations on equipment supply between cooperative partners, thereby expanding the potential for export growth through development cooperation.

An exhibition booth dedicated to local small enterprises and small business owners was also operated at the venue. For companies based in regional areas with limited opportunities to meet buyers abroad, the event provided new market entry opportunities through consultations with key buyers attending the business meetings.

KOTRA President Kang Kyungsung stated, “Central Asia offers significant potential for cooperation with Korea due to its growth potential, abundant natural resources, geographic proximity, and deep historical and cultural ties. With the Korea-Central Asia Summit as a catalyst, we will make every effort to support dynamic business activity between companies in both regions in exports, supply chains, energy, and infrastructure.”

This content was produced with the assistance of AI translation services.