Martial Arts, Business Agreement with Kyrgyzstan Chamber of Commerce

The Korea International Trade Association (KITA) announced on the 6th that it signed a Memorandum of Understanding (MOU) for mutual cooperation with the Kyrgyzstan Chamber of Commerce and Industry (CCIKR) at the Trade Tower in Gangnam-gu, Seoul.

Kim Ki-hyun, Head of Global Cooperation Division at the Korea International Trade Association, and Lahat Junushbayeva, Korea Representative of the Kyrgyzstan Chamber of Commerce and Industry, are holding the signed Memorandum of Understanding (MOU) document and taking a commemorative photo. Photo by Korea International Trade Association

Through this MOU, the two organizations agreed to support market entry for companies from both countries, establish a cooperative network, and assist with marketing activities such as delegation exchanges. Additionally, they will exchange information on trade and economic trends between the two countries.

In June 2020, KITA established the 'Korea-Central Asia Economic Council' together with chambers of commerce from five Central Asian countries and has continuously cooperated with the Kyrgyzstan Chamber of Commerce and Industry by holding forums and business consultations.

According to KITA, due to the aftermath of the Russia-Ukraine war, the number of export-controlled items to Russia has increased from 798 to 1,159, raising entry barriers to the Russian market. To compensate for this, expansion into the Commonwealth of Independent States (CIS) is urgently needed.

Kim Ki-hyun, Head of KITA's Global Cooperation Division, said, "Based on this MOU, we will actively cooperate with the Kyrgyzstan Chamber of Commerce and Industry to help domestic companies create new business opportunities in the CIS region and support efforts to expand trade between the two countries."