Kazakhstan - The Times Of Central Asia

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South Korean Corporation Bank to Open in Kazakhstan

Microfinance organization BNK Finance Kazakhstan, part of the Korean corporation BNK Financial Group Inc., has been granted permission to transform into a second-tier bank. The news was reported by the Agency of the Republic of Kazakhstan on Regulation and Development of Financial Market's press service (ARFM). BNK Financial Group Inc. is the largest South Korean financial group with assets of $129 billion and a national rating of "AAA." The group has two banks with over 300 branches and "A2" international ratings. In 2021, BNK MFI received a license to carry out microfinance activities. Since then, the company has significantly increased its performance and capabilities and now ranks 13th in terms of assets in Kazakhstan's microfinance organizations sector. The decision by the Agency for Regulation and Development of the Financial Market of Kazakhstan (ARDFM) to issue a permit for BNK's voluntary reorganization into a second-tier bank was approved by a resolution on June 7. As noted by the press service, the appearance of a new foreign bank in Kazakhstan's financial market will strengthen competition in the banking sector and provide clients in Kazakhstan with financial services that adhere to international groups' advanced corporate standards. Earlier this month, during talks with the head of South Korea, Yoon Suk Yeol, Kazakhstan's president Kassym-Jomart Tokayev, cited Seoul as one of Astana's most important strategic partners in the Asia-Pacific region. Korea ranks fourth in foreign trade turnover and is among Kazakhstan's top ten largest foreign investors.

First Cargo Transported from Pakistan to Azerbaijan via Kazakhstan

A Pakistani transport and logistics company, TCS, has now completed a pilot delivery of goods from Karachi (Pakistan) to Baku (Azerbaijan) through the Caspian seaport of Aktau in Kazakhstan. The shipment was organized with the assistance of the Embassy of Kazakhstan in Islamabad, in an effort to expand Kazakhstan’s transit transport potential. Kazakhstan’s Foreign Ministry announced that the transportation of Pakistani pharmaceutical products under TIR, along the 4,820 km long route through Afghanistan and Uzbekistan to Aktau and then by sea to Baku, took 21 days. According to Pakistani logistics experts, the Trans-Afghan corridor in tandem with the Karakoram Highway, can provide significant impetus to expanding the transit and transport potential of Kazakhstan and Pakistan, with reference to the Trans-Caspian International Transport Route.

SPECA Countries’ Digitalization of Multimodal Data Exchange along Trans-Caspian Transport Corridor

An international seminar on “Trade Facilitation and Digital Transformation of Multimodal Data and Document Exchange along the Trans-Caspian Corridor” was held in Aktau, Kazakhstan on June 11-12. Participants included the Ministry of Trade and Integration of Kazakhstan, the United Nations Economic Commission for Europe (UNECE), the International Association “Trans-Caspian International Transport Route” (TCITR), and partners including the German Society for International Cooperation (GIZ) and the Permanent Secretariat of the Intergovernmental Commission of the Transport Corridor Europe-Caucasus-Central Asia. The seminar followed the adoption of the SPECA Roadmap for Digitalization of Multimodal Exchange of Data and Documents along the Trans-Caspian Transport Corridor, using UN legal instruments and standards, at the Presidential Summit of participating States of the United Nations Special Programme for the Economies of Central Asia (SPECA), back in November 2023, The workshop in Aktau, which brought together experts in trade, transport, and digitalization from fifteen countries, focused on the digitalization of multimodal exchange of data and documents along the Trans-Caspian Transport Corridor, particularly in the ports of Baku (Azerbaijan), Aktau (Kazakhstan), and Turkmenbashi (Turkmenistan). During the event, reports were given on the implementation of UN standards for digitalization of international supply chains, port community systems, interoperability, and multimodal data exchange. A visit to Kuryk, organized by the Kazakh side, included a presentation of the port’s digitized system as well as ongoing work on transhipment and storage of cargo. The United Nations Special Program for the Economies of Central Asia (SPECA) was launched in 1998 to strengthen sub-regional cooperation in Central Asia and its integration into the world economy. SPECA countries include Afghanistan, Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. Kazakhstan's trade turnover with SPECA countries in 2023 amounted to $9 billion.

Kazakhstan and South Korea to Cooperate in Critical Minerals, Oil and Gas

During South Korean President Yoon Suk Yeol’s visit to Kazakhstan on June 12, agreements were made on cooperation in critical minerals and metals, as well as in the oil and gas industry. A Memorandum on partnership on critical minerals and metals was signed by the Ministry of Trade, Industry and Energy of the Republic of Korea and the Ministry of Industry and Construction of Kazakhstan. The document represents the first step towards the establishment of an international chemical analytical laboratory in Kazakhstan and aims to strengthen cooperation between the two countries in the supply of lithium, nickel, cobalt, tantalum, tungsten, beryllium, niobium, titanium, rhenium, phosphorus, copper, aluminum, chromium, manganese, and rare earth metals. An additional Memorandum on security and development of the critical minerals supply chain was signed by the Korean Institute of Geoscience and Mineral Resources, Korea’s SK Ecoplant Co. Ltd., and the Ministry of Industry and Construction of Kazakhstan. The agreement provides for a comprehensive exchange of information on supply chains for critical minerals and metals, joint geological exploration and production of critical minerals and metals, and the mining and processing of lithium to produce lithium batteries. Kazakhstan’s national oil and gas company KazMunayGas and Hyundai Engineering, South Korean EPC engineering company, signed an agreement on cooperation in the oil, gas and petrochemical industries. Aimed towards exploring opportunities for cooperation in the above, it includes provision for technology exchange, specialist training, and the transfer of technical knowledge and experience.

Rule of Law

Women and Girls in Central Asia in Need of Protection from Violence

Central Asian Countries are seeing a new wave of violence against women and girls, and the fight against their long-standing powerlessness is just beginning. In 2023, the Women, Peace and Security Index (WPS Index), published by the Georgetown Institute for Women, Peace and Security and the PRIO Centre on Gender, Peace and Security, found Kyrgyzstan and Uzbekistan the most dangerous countries in Central Asia for women. Things were deemed slightly better in Kazakhstan, Tajikistan, and Turkmenistan. The challenges faced by women in the region result from a combination of factors: the low number of women in government and law enforcement, women’s lack of financial independence, especially in rural areas, a distorted understanding of traditions across populations, and a mentality in society that often denies or covers up flagrant cases of injustice. The law is written in blood: the case of Kazakhstan According to WPS experts, Kazakhstan has progressed further than its neighbors toward equality. Still, according to Kazakhstan’s Ministry of Internal Affairs, 69 women and seven children died in 2023 in domestic conflicts alone. It is believed that, on average, at least 80 women die every year at the hands of those they live with; every day, the police receive hundreds of calls, while thousands of women need the help of specialized protection and support centers. According to the Prosecutor General, last year 150 women sustained severe injuries and 200 moderate injuries in marital conflicts, with another 4,000 suffering minor bruises. This year, however, marked a turning point for Kazakhstani society – more and more women are recording videos with marks from beatings, posting the videos on social media, and calling on the police to punish their abusers. Even high-profile domestic abusers can now be exposed. The trigger for these changes was the trial of former Nazarbayev-era Minister of the National Economy, Kuandyk Bishimbayev, who beat his wife, Saltanat Nukenova, to death last November. Following a live-streamed trial, this May, Bishimbayev was sentenced to 24 years in prison for her murder. Even during the Bishimbayev trial, Karina Mamash, the wife of a Kazakh diplomat in the UAE, went public with allegations about systematic abuse, calling on the state to help. The Ministry of Foreign Affairs urgently recalled her husband, Embassy Counselor Saken Mamash, who may be fired. Karina is now at home with her children while a criminal case has been opened against her husband. She has since reported threats from her husband's relatives. Also in May, Akmaral Umbetkalieva, a resident of Atyrau, alleged that her ex-husband, Rinat Ibragimov – the akim (mayor) of Makat District in Atyrau Region – had beaten her for eleven years and taken away their children. Ibragimov called the allegations slander. The month before, former Taldykorgan police chief, Marat Kushtybaev was sentenced to eleven years for raping a girl in his office in November 2023. Another headline from April was that a security guard at an Almaty bar who had been convicted of raping a girl at knifepoint would serve eight years in prison. The...

Kazakhstan and South Korea: “A Golden Bridge of Friendship”

The President of Kazakhstan, Kassym-Jomart Tokayev, held talks with the President of South Korea, Yoon Suk Yeol. According to Tokayev, Seoul is one of Astana’s most important strategic partners in the Asia-Pacific region. Korea ranks fourth in foreign trade turnover, and is among Kazakhstan’s top ten largest foreign investors. South Korea has become a true economic and technological locomotive on a global scale, Tokayev stated. World-renowned Korean corporations seriously support promoting the country’s position in the international arena as a “key global state.” Kazakhstan and Korea have achieved a high level of political dialog, establishing fruitful economic cooperation and strong humanitarian ties. The two countries interact in various spheres, including inter-parliamentary, inter-governmental, and inter-departmental contacts. According to Tokayev, regular contact between businessmen of the two countries plays a very important role in building close ties. More than 700 companies with South Korean capital successfully operate in Kazakhstan. “The 120,000 ethnic Koreans in Kazakhstan fulfill an important role and make an invaluable contribution to strengthening our relations. In turn, more than a thousand Kazakh students studying in Korea are a ‘golden bridge of friendship’ between our countries,” Tokayev stated. During the talks, the presidents discussed prospects for bilateral cooperation in energy, infrastructure and industry, engineering, trade, transport and logistics, digitization and the aerospace industry, the financial sector, education, healthcare and pharmaceuticals, tourism and culture, ecology, and other fields.