Tokayev invites Korean companies to join development of Middle Corridor
In his speech at the First Korea-Central Asia Summit in Seoul, the Head of State emphasized the importance of developing partnership in the field of critical materials, Qazinform News Agency reports, citing the Akorda press service.
He said Kazakhstan possesses rich deposits and reserves of critical minerals and rare earth metals.
“We produce copper, chromium, titanium and many other elements identified by the Government of Korea as priority strategic resources. Taking into account Korea’s advanced technological expertise, we propose establishing a pool of targeted, full-cycle investment projects covering geological exploration, extraction, deep processing and the production of critical materials,” the President noted.
President Tokayev stressed that expanding transport connectivity is becoming increasingly important. In his view, Central Asia’s unique geographical position offers significant opportunities to strengthen the transport and logistics connectivity of the entire Eurasian continent.
“The Trans-Caspian International Transport Route, a significant part of which runs through Kazakhstan, plays an important role in this regard. Currently, this route accounts for around 85 percent of all land-based freight transportation between Asia and Europe. Last year, container traffic along the Middle Corridor increased by 36 percent. A significant increase of 18 percent was also recorded in the first eight months of this year. Over the next two years, we plan to increase the route’s capacity from 6 million to 10 million tonnes. We invite Korean companies to take the most active part in developing infrastructure projects along this route. To this end, the Government of Kazakhstan will establish a portfolio of investment projects for Korean partners,” the Head of State said.
Earlier, the Head of State said that Kazakhstan and South Korea would develop a Comprehensive Program for Trade, Economic and Investment Cooperation for 2027-2030.
