Minister of Trade, Industry and Energy Kim Jung-kwan meets with Kyrgyzstan's Minister of Economy and Commerce Bakit Sydykov at the Government Seoul Complex on May 21. [Ministry of Trade, Industry and Energy]
Minister of Trade, Industry and Energy Kim Jung-kwan meets with Kyrgyzstan's Minister of Economy and Commerce Bakit Sydykov at the Government Seoul Complex on May 21. [Ministry of Trade, Industry and Energy]

South Korea's Ministry of Trade, Industry and Energy said Friday it held the first South Korea-Kyrgyzstan Trade and Investment Cooperation Committee meeting in Bishkek, Kyrgyzstan.

Bae Jun-hyung, director general for trade cooperation at the ministry, and Mederbek Tumanov, deputy minister of economy and commerce of Kyrgyzstan, attended the meeting. The two sides discussed cooperation in trade and investment, official development assistance, critical minerals, and industrial and business affairs.

Both sides welcomed the growth in bilateral trade, which rose from $113 million in 2021 to $3.48 billion last year, and agreed to create favorable conditions to sustain the momentum through expanded mutual investment and stronger industrial cooperation.

They also shared plans for ODA projects to be pursued this year, including a "digital transformation technology mapping project" in Kyrgyzstan, and agreed to examine over the medium to long term the potential for cooperation on sustainable mineral resource development and processing technology.

In the critical minerals sector, the two sides confirmed the cooperation potential of promising mineral resources in Kyrgyzstan — including antimony and tungsten — and agreed to share information on mineral resource conditions, policy and prospective projects. They also agreed to review the possibility of sustainable development and processing technology cooperation over the medium to long term.

On business cooperation, the meeting focused on key issues raised by South Korean companies in the course of pursuing local projects.

Director General Bae also met with Tinchbek Uulu Ryskul, vice president of the Kyrgyz State Committee of Industry, Energy and Subsoil Use, to discuss ways to expand critical minerals cooperation.

In addition, Bae attended a support council for South Korean companies operating in Kyrgyzstan, held at the South Korean Embassy, where he exchanged views with local firms on strategies to expand their market presence.

A ministry official said the government plans to develop concrete cooperation tasks identified during the Kyrgyzstan visit and deliver tangible results ahead of the Korea-Central Asia Summit in September.


oskymoon@heraldcorp.com