- AIFC and BIFC sign MoU to strengthen financial cooperation between while linking Kazakhstan’s role in the Middle Corridor with Busan’s port and logistics strengths.
- The partnership will support knowledge-sharing, joint research, training, seminars, and investor awareness of opportunities in both countries.
- The agreement aims to connect financial communities and help direct investment toward trade-related projects in Kazakhstan, South Korea and Central Asia.
AIFC And BIFC Sign Agreement To Advance Cooperation
The Astana International Financial Centre (AIFC) and the Busan International Financial Centre (BIFC) recently signed a strategic Memorandum of Understanding. It aims to advance cooperation and promote joint initiatives between Kazakhstan and the Republic of Korea. The signing took place in Busan during the Annual General Meeting of the World Alliance of International Financial Centres (WAIFC).
Kazakhstan Middle Corridor Project Connecting China And Europe
Kazakhstan, plays a key role in the Trans-Caspian International Transport Route, also known as the Middle Corridor. The route connects the markets of China and Europe through Central Asia, the Caspian Sea and the South Caucasus. Meanwhile, Busan is the largest port in South Korea and ranks second globally in terms of container transshipment volumes. Such infrastructure initiatives are increasing demand for financial mechanisms capable of supporting growing trade flows and cross-border investment. Accordingly, cooperation between AIFC and BIFC will combine Kazakhstan’s transit potential with Busan’s logistics capabilities by providing financial infrastructure required to implement international projects.
Memorandum Promoting Exchange Of Knowledge And Experience
The Memorandum promotes exchange of knowledge and practical experience in governance, professional training and the operation of international financial centres. In addition, both parties also plan to conduct joint research, seminars and educational programmes. Another area of cooperation will focus on increasing investor awareness of market opportunities in Kazakhstan and the Republic of Korea. As a result, AIFC and BIFC will facilitate direct engagement between both financial communities and expand interaction with international markets. The AIFC and BIFC cooperation enables capital to follow trade flows for projects in Kazakhstan, South Korea and Central Asia. The AIFC is an independent jurisdiction where investors and business meet emerging opportunities in Kazakhstan and Central Asia.
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