Ministry of Trade and KOTRA Hold Trade Consultation Linked to Kazakhstan Tour... 312 Cases Discussed

'K-Lifestyle in Kazakhstan' Held
Online and Offline Business Consultations... Popup Store Operation

The Ministry of Trade, Industry and Energy and KOTRA announced on the 14th that they held the '2024 K-Lifestyle in Kazakhstan' event on the 13th (local time) in Almaty, Kazakhstan. The event was organized to strengthen business partnerships between Korea and Kazakhstan in connection with economic delegations from three Central Asian countries (Kazakhstan, Turkmenistan, Uzbekistan).

On the 13th (local time), Chunwoo Jeon, Vice President of KOTRA, delivered the opening address at the '2024 K-Lifestyle in Kazakhstan' held at the Rixos Hotel in Almaty, Kazakhstan.
[Photo by KOTRA]

The offline trade consultation held at the Rixos Hotel in Almaty saw participation from 35 Korean companies. They held 312 consultations with 149 local buyers. Notably, major Kazakhstani distributors such as Jusang Market, CU Central Asia, and Air Bar Fresh set up separate promotional booths to attract Korean companies to enter their stores.

On the 13th, KOTRA signed a business agreement with Shinrain, the parent company of 'CU Central Asia,' the local operator of the Korean convenience store CU in Kazakhstan. Andrey Shin, CEO of Shinrain, said, "We will continue to cooperate with KOTRA to help Korean consumer goods companies establish themselves in the Kazakhstan market by utilizing convenience stores."

Following this, a K-consumer goods promotion event will be held for two days at the Mega Center, a large shopping mall in Almaty, Kazakhstan. The products will be sold and consumer reactions observed in conjunction with a K-pop contest during the busy weekend. In collaboration with the Consulate General of the Republic of Korea in Almaty, online consultations between 113 Korean companies and major buyers will be arranged over the next three weeks.

Meanwhile, due to the reorganization of the global trade order, Korean companies are increasingly interested in discovering alternative markets in the Commonwealth of Independent States (CIS) region. Naturally, Kazakhstan, a member country of the Eurasian Economic Union (EAEU), is also gaining attention. As of April, KOTRA explained that Korea’s exports to Kazakhstan increased by 3.7% compared to the same period last year. Cosmetics, a major export item, grew by 43.1%, and pasta and other noodles increased by 17.9%.

Janar Turebekova, Director of the International Affairs Department at the Kazakhstan Chamber of International Trade and Commerce, said, "This event attracted the attention of many businesspeople as it was linked to the presidential visit," adding, "Many export contracts were signed on-site, and we could feel that the business relationship between the two countries has become closer."

Jeon Chun-woo, Vice President of KOTRA, said, "We hope that Korean companies seeking alternative markets in Central Asia have established a new foothold through this event," and added, "KOTRA plans to actively support our small and medium-sized enterprises and mid-sized companies to diversify their export markets going forward."

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