KOTRA Conducts Program to Support Kazakhstan's WTO Agreement Implementation

Sharing Domestic Best Practices to Support Korean Companies Investing Locally Without Difficulties

KOTRA held the 'World Trade Organization (WTO) Investment Facilitation Agreement Implementation Capacity Building Cooperation Program' at the Sheraton Hotel in Astana, Kazakhstan, from the 4th to the 5th.

This program was conducted to improve the investment-related environment under the 'Investment Facilitation Agreement for Development (IFD Agreement),' which WTO member countries are implementing to enhance transparency of investment-related measures and simplify administrative procedures.

Lee Kyung-sik, Head of KOTRA's Comprehensive Administrative Support Center for Foreign Investment, Domestic Return, and Talent Attraction, is delivering the opening remarks on the 4th at the Sheraton Hotel in Astana, Kazakhstan, during the "WTO Investment Facilitation Agreement Implementation Capacity Building Cooperation Program." / Photo by KOTRA

Previously, South Korea served as a co-chair in the negotiation process for adopting the agreement. The negotiation team, centered around the Ministry of Trade, Industry and Energy, played a role in agreeing on the agreement text aimed at improving the investment environment for member countries. During this process, South Korea's foreign investment-related systems were mentioned as best practices.

KOTRA, which acts as a gateway for foreign investment tasks under the Ministry of Trade, Industry and Energy, shared its know-how with Kazakhstan through this program. A dispatched team composed of foreign investment experts from KOTRA informed local government officials about domestic systems and cases related to investor information provision and expedited administrative procedures.

Lee Kyung-sik, Head of KOTRA's Foreign Investment, Domestic Return, and Talent Attraction Comprehensive Administrative Support Center, stated, "Such capacity-building support will enhance the transparency of investment attraction system operations in the respective country," adding, "We expect it to contribute to resolving investment obstacles such as difficulties or unreasonable procedures that occur during the investment expansion process of our companies."

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