The 16th meeting of the Central Asia-Republic of Korea Cooperation Forum is planned to be held in Ashgabat in November, local TV channel Altyn Asyr reports.
The issue was discussed during the meeting of Presidents of Turkmenistan and the Republic of Korea Serdar Berdimuhamedov and Yoon Suk Yeol in New York (USA) on the sidelines of the 78th session of the UN General Assembly.
"The head of Turkmenistan expressed strong confidence that its results will contribute to the coordination of joint efforts with the Republic of Korea in the implementation of economic, cultural and humanitarian projects at the regional level."
Experts told Daryo that Seoul plays a key role in diversifying the regional economies, including Turkmenistan's. Hyndai and LG have helped with the development of the Galkynysh gas field on service terms.
The Korea Fundation reports that the Republic of Korea's trade volume with the five Central Asian countries rose from $180mn in 1993 to $5.27bn in 2022, growing at an average annual rate of 12.4%.
"Despite this high growth in bilateral trade, the share of Central Asia in South Korea's foreign trade is very small at 0.42%. Meanwhile, in terms of trade volume, Kazakhstan and Uzbekistan account for 96.7%."
Credits: Eziz Boyarov
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