Machine builders of Kazakhstan and South Korea to step up their cooperation (PHOTO)

ASTANA. KAZINFORM - Chairman of the Board of the Union of Machine Builders of Kazakhstan Meiram Pshembayev and Deputy Chairman of the Board of the Korea Association of Machinery Industry KOAMI Park Young-tak signed a memorandum on cooperation in Astana.

The memorandum provides for cooperation aimed at preserving the current economic and scientific and technical relations, development of trade and economic cooperation and establishment of new long-term mutually beneficial relations between the entrepreneurship entities. Besides, the document aims at implementation of joint innovation projects of the companies, firms, organizations and enterprises of Korea and Kazakhstan in the sphere of machine building and related spheres.

"We are thankful for the proposals on establishment of joint enterprises with Korean machine builders in our country. We know that South Korea has a great experience in this sphere. Besides, Daewoo, Hyundai, Ssang Yong and Kia companies operate in the machine building sector of Kazakhstan. Our cooperation is actively developing now and Korean companies are represented well in our market, but we plan the next level of cooperation in such sectors as heavy engineering and oil and gas sectors, agricultural, metallurgic, shipbuilding and energy spheres. We know that Korea's competence in these spheres is quite high and we are ready for joint work in our country," M. Pshembayev said.