South Korean President Yoon Suk Yeol expressed his support for deepening economic ties with Turkmenistan, Kazakhstan, and Uzbekistan during his state visit to the region. President Yoon emphasized the potential for economic synergy between South Korea and the Central Asian countries, particularly in the energy and resource development sectors. He highlighted the need for collaboration between Turkmenistan, which is the world's fourth-largest holder of natural gas, and South Korea, with its industrialization experience and advanced technology. President Yoon encouraged Korean companies to actively participate in Turkmenistan's, Kazakhstan's, and Uzbekistan's energy and plant projects.
As part of the visit, Hyundai Engineering Co. and Daewoo Engineering & Construction Co. signed agreements with Turkmenistan's, Kazakhstan's, and Uzbekistan's state-run companies for various construction projects, with the combined contracts estimated to be worth approximately $6 billion. The agreements aim to enhance infrastructure development and promote economic cooperation between the countries. The three nations also agreed to expand direct flights and cooperation in the shipbuilding sector.
President Yoon's visit to Turkmenistan, Kazakhstan, and Uzbekistan is part of his three-nation Central Asia trip, which aims to strengthen economic ties and promote regional integration. The visit aligns with South Korea's efforts to diversify its economic partnerships and explore new opportunities in emerging markets. President Yoon's engagement with the Central Asian countries reflects the growing importance of the region in the global economy and South Korea's commitment to deepening its engagement in Central Asia.
Meanwhile, on August 9, Astana hosted the sixth consultative meeting of the heads of state of Central Asia, marking a pivotal moment for regional integration. Uzbekistan's President Shavkat Mirziyoyev emphasized the importance of regional integration in mitigating the challenges faced by Central Asia. The summit focused on the institutionalization of regional processes and integration in Central Asia. The meeting resulted in the signing of important documents and agreements, highlighting the commitment of Central Asian countries to deepen cooperation and address common challenges.
President Mirziyoyev's leadership in Central Asian diplomacy and coordination of aid to Afghanistan amidst the COVID-19 pandemic has positioned Uzbekistan as a key player in the region. The Astana summit is seen as a critical juncture for the integration processes in Central Asia, as it provides an opportunity for the countries to strengthen their cooperation and work towards shared goals. The summit also underscores the growing importance of regional integration in Central Asia and the recognition of its potential to drive economic growth and stability in the region.
The visit of South Korean President Yoon Suk Yeol to Turkmenistan, Kazakhstan, and Uzbekistan, along with the Astana Leaders' Summit, highlights the increasing focus on regional integration and cooperation in Central Asia. These developments open up new avenues for economic partnerships and collaboration between South Korea and the Central Asian countries, fostering mutual growth and prosperity.
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