Eurasian Cooperation
The Korea International Trade Association (KITA) announced that it held the “Eurasia Economic Forum 2016: Korea-EAEU Investment Cooperation” in the Korea World Trade Center in Samseong-dong, Seoul, on November 9 and paved the way to create a new opportunity for economic cooperation with the member states of Eurasian Economic Union (EAEU).
The EAEU is an economic community comprised of five member countries – Russia, Kazakhstan, Belarus, and Armenia and Kyrgyzstan. The delegation of the EAEU members and heads of domestic companies were invited to the forum this year.
A total of 170 officials – 20 high ranking delegates from the member states of the Eurasian Economic Commission (EEC) and 150 heads of domestic companies – attended the forum to discuss ways to cooperate in investment between South Korean companies and the EAEU member countries. As a guest speaker representing South Korea at the forum, Lee Jae-young, director of the Korea Institute for International Economic Policy (KIEP), presented the collaboration potentiality of Korea and the EAEU and future visions.
Lee Jae-chool, managing director of the KITA, delivered an opening address, saying, “Regardless of high potentials, the trade between Korea and other member countries is insignificant, except for Russia. The forum where both the delegation of the EAEU and Korean businessmen are present will be a very timely and meaningful opportunity to lay the groundwork for mutual cooperation in the future.”