The Export-Import Bank of Korea (Korea Eximbank) is expected to finance the construction of a new railway in Tajikistan’s southern province of Khatlon. This issue has reportedly been discussed at a meeting of Tajik Minister of Transport Azim Ibrohim with Korea Eximbank delegation led by Korea Eximbank Director for Economic and Investment Cooperation Program, Mr. In-kyu Cho.
The Ministry of Transport (MoT) press center says the meeting that took place in Dushanbe on November 11 focused on further construction of the J. Balkhi-Jaihoun-Panj railway in Khatlon province.
Representatives of Korea Eximbank reportedly expressed interest in providing assistance in developing the feasibility study of the project. No other details of the meeting have been released.
Established in 1976, the Export-Import Bank of Korea (Korea Eximbank) is a leading financial services organization and an official Export Credit Agency (ECA), which provides financing options for external economic cooperation such as imports and exports, foreign investments and overseas resource development and a comprehensive export loan and guarantee programs to support Korean enterprises conducting business overseas.
Meanwhile, relationships between Tajikistan and South Korea in recent years have been improving in all areas, including labor migration and education.
In particular, after several years of discussions about the necessary of diversifying the process of labor migration of Tajik citizens abroad, the first group of Tajik labor migrants was sent to South Korea on October 1 on the basis of the bilateral agreement.
As a part of mutually beneficial cooperation, Tajikistan and the Republic of Korea plan to set up a joint university in Tajikistan to train technical specialists for Tajikistan, especially in the field elevator engineering, according to the press center of the Ministry of Education and Science of Tajikistan. This issue was reportedly discussed at a meeting of Tajik Minister of Education and Science Rahim Saidzoda and Korean Ambassador to Tajikistan Kwon Dong Seok that took place here on May 26.
The Ministry of Transport of Tajikistan and the Korean National Railway (KNR) have agreed to cooperate in the construction of the urban rail system in Dushanbe. The document was inked by Mr. Azim Ibrohim, Minister of Transport of Tajikistan and Mr. Kim Han-young, Head of the Korean National Railway. A virtual signing ceremony for the memorandum of understanding (MoU) on cooperation in the construction of urban trains in Dushanbe took place on March 14.
Besides, Tajik Minister of Transport Azim Ibrohim on November 26 last year met here with representatives of Korea’s Living Tree Co. Ltd, who arrived in Dushanbe to participate in the first Business Forum of Central Asia and the Republic of Korea. The parties agreed to cooperate in implementing projects aimed at constructing international logistics center and railways in Tajikistan as well as maintaining road safety in the country. The meeting reportedly resulted in signing of a memorandum of understanding (MoU) on cooperation between Tajik Ministry of Transport and Korea’s Living Tree Co. Ltd in the field of transportation.
According to data from the Agency for Statistics under the President of Tajikistan, the bilateral trade between Tajikistan and South Korea over the first nine months of this year has valued at US$35.2 million, which was 6.1 percent more than in the previous year. This consisted of Tajikistan’s exports to South Korea estimated at US$165,600 and Tajikistan’s imports from South Korea worth US$35.050 million.
Bilateral relations between Tajikistan and the Republic of Korea are in the process of progressive development. Tajikistan and Korea also effectively cooperate within international and regional organizations. The countries share similar stances on many issues of international and regional agenda.
Diplomatic relations between the Republic of Tajikistan and the Republic of Korea were established on April 27, 1992. Embassy of Tajikistan in the Republic of Korea has been functioning since April 2015 and the Embassy of the Republic of Korea in Dushanbe has been operating since June 2002. The legal foundation of cooperation between the two countries includes nine government-to-government agreements.
