Ministry of Foreign Affairs Holds Business Meeting on Water Industry Central Asia Entry... "Actively Supporting Companies' Overseas Expansion"

[Asia Economy Reporter Lim Cheol-young] On the 22nd, the Ministry of Foreign Affairs held the '2020 Central Asia Water Industry Advancement Meeting and Business Consultation' at Lotte Hotel Seoul, attended by officials from the Ministry of Environment, the Northern Economic Cooperation Committee, Korea Water Resources Corporation, Korea Environment Corporation, and other government, public institutions, and companies related to the water industry.

The Water Industry Overseas Advancement Support Meeting is an event held annually by the Ministry of Foreign Affairs since 2016 to support domestic water companies' entry into overseas markets. Yoon Hyun-soo, Director of the Climate Environment Science Diplomacy Bureau at the Ministry of Foreign Affairs, stated, “The water industry is facing many opportunities both domestically and internationally due to climate change response and Green New Deal policies,” adding, “The Ministry of Foreign Affairs will actively support domestic water companies' overseas market entry together with overseas diplomatic missions and related ministries.”

This meeting served as an opportunity to introduce policies and support measures related to the overseas advancement of the domestic water industry and to share business promotion strategies for Central Asian countries in line with the government's New Northern Policy. Participants from the Northern Economic Cooperation Committee, Ministry of Environment, Korea Water Resources Corporation, and Korea Environment Corporation explained to domestic water companies the △ current status of New Northern Policy implementation △ water industry promotion and overseas advancement support policies △ Korea Water Resources Corporation’s support status for water companies’ overseas advancement △ water industry cluster overseas advancement support status.

The attending businesspeople shared a common recognition of the need to seek growth opportunities for the domestic water industry in overseas markets, exchanging their respective overseas business cases, difficulties encountered during the process, and acquired know-how, while expressing various expectations regarding the government's role.

Following the morning meeting, an online 1:1 business consultation was also held. The consultation, organized by the Korea Water Industry Council and KOTRA trade offices in Almaty and Tashkent, is scheduled to be held via video conference until the 23rd, involving six water companies from Korea, Kazakhstan, and Uzbekistan, tailored to mutual areas of interest.

This content was produced with the assistance of AI translation services.