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ASTANA. KAZINFORM -In the presence of the President of Kazakhstan and the President of the Republic of Korea a number of documents have been signed in Akorda.
Thus there was signed an agreement between the Government of the Republic of Kazakhstan and the Government of the Republic of Korea on mutual abolition of visa requirements, a Memorandum of Understanding and Cooperation between the Ministry of Justice of the Republic of Kazakhstan and the Ministry of State legislation of the Republic of Korea, a Memorandum of Understanding between the Ministry of education and science of the Republic of Kazakhstan and the Ministry of science, information and communication technologies and the future planning of the Republic of Korea, a Memorandum of Understanding between the Ministry of Environment and Water Resources of the Republic of Kazakhstan and the Forestry Service of the Republic of Korea on cooperation in the field of forestry and reforestation of the Republic of Kazakhstan, a treaty on the purchase of services to maintain readiness of electric power generation plants. After the ceremony, the two leaders made a statement.

Nursultan Nazarbayev expressed confidence that the visit of the President of the Republic of Korea will strengthen the dynamics of bilateral cooperation.

"Kazakhstani and South Korean partners are expanding cooperation in non-oil sector. There are more than 300 joint ventures in Kazakhstan. During the talks with Ms. Park Geun-hye, we discussed the participation of Korean business in the program of forced industrial-innovative development of Kazakhstan. The parties confirmed their interest in cooperation on the formula "technology in exchange for resources", he said.

Nursultan Nazarbayev noted that a number of important agreements will be signed within the framework of the Kazakh-Korean business forum. He also informed about the business forum "Republic of Kazakhstan - Republic of Korea" which is to be held on September the current year.

President drew attention to the signing of the new law "On investments" which provides good business opportunities for foreign investors.

"Investors are now offered such supporting measures as exemption of the income tax for a 10-year-long period; exemption of the land tax for the same period; exemption of property tax for 8 years; compensation for up to 30% of capital investments by the state after the production facility has been put in operation. Besides, investors are vested with the right to import work force in excess of the set quotas for the whole construction period and for a year following the commissioning of the production facility", said the President of Kazakhstan.

"We note Seoul's active participation in the CICA. We asked South Korea to actively participate in preparations for EXPO 2017. We actively support South Korean's "Eurasian initiative" which coincides with Kazakhstan's idea of the Eurasian Economic Union. We support the proposal of the Republic of Korea on North Korea's nuclear-free status, and the idea of unification of the peninsula in a peaceful manner. We urge the North Korean partners to consider the experience of Kazakhstan, which renounced its nuclear arsenal and closed the polygon", he said.

President of the Republic of Korea stressed that she attaches great importance to this visit, as Kazakhstan is South Korea's important partner in economic cooperation and it plays a key role in the Eurasian region.

"Today we have agreed to bring bilateral relations to more mutually beneficial level. I hope that the adopted Joint Statement will determine the direction for the development of our relations and concrete measures for practical cooperation in various fields", said Park Geun-hye.
South Korean President also noted that the two countries have complementary economic structures.

"Last year, trade turnover between the two countries reached a record high. Kazakhstan is Central Asia's largest investment market for Korea. We are engaged in the implementation of three major projects: the construction of Balkhash thermal power plant, chemical complex in Atyrau region, and Zhambyl deposit development. We also welcome the intended promotion of new projects such as the expansion of production at the Tengiz oil field", said the President of the Republic of Korea.

In conclusion, Park Geun-hye noted that the Republic of Korea supports Kazakhstan's efforts to join the WTO and expressed hope to increase trade and investment cooperation between the two states.



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