Turkmenistan, South Korea Explore Bilateral Cooperation In Banking And Industrial Sectors

(MENAFN- Trend News Agency) ASHGABAT, Turkmenistan, April 22. A Turkmen delegation held separate meetings in Seoul, South Korea with the leadership of Kookmin Bank and the Export-Import Bank of Korea (K-Exim) to explore prospects for expanding cooperation in the banking, medical, and industrial sectors, Trend reports, citing the Embassy of Turkmenistan in Korea.

During talks with the Chairman of Kookmin Bank, the Turkmen side was represented by Rahimberdy Jepbarov, Chairman of the State Bank for Foreign Economic Affairs, Deryageldi Orazov, Chairman of the State Committee for the Construction of the City of Arkadag and Dowrangeldi Sapbaev, Head of the State Concern Turkmenhimiya.

The Turkmen delegation emphasized its interest in strengthening ties between the financial institutions of the two countries and proposed the possibility of signing a framework cooperation agreement. Representatives of Kookmin Bank expressed readiness to explore potential areas of partnership.

Special attention was given to the involvement of South Korean companies in the implementation of a medical cluster project currently under development in the city of Arkadag.

On the same day, the delegation visited the headquarters of the Export-Import Bank of Korea, where they met with Bank President Yoon Hee-sung and senior officials. Discussions focused on key areas of bilateral cooperation, including projects in the gas sector, chemical industry, and healthcare.

The Turkmen side expressed its readiness to continue constructive engagement with the financial institutions of the Republic of Korea.

In the interim, South Korea's outbound shipments to Turkmenistan for the month of January 2025 aggregated to a total of $7.99 million. In December 2024, the export metrics registered at $12.68 million, reflecting a contraction of approximately 37 percent as we transitioned into January 2025.

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