Kazakh-North Macedonian Business Forum was Held in Almaty
On September 5, 2022, a business forum was held in Almaty with the participation of Kazakh and North Macedonian businesses. The forum discussed issues of investment opportunities in such areas as the agro-industrial complex, pharmaceuticals, petrochemicals.
An important mechanism for the rapid development of bilateral cooperation is the Intergovernmental Commission on Trade and Economic Cooperation, established in October 2020.
Chairman of the Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan Ardak Zebeshev in his welcoming speech spoke about the attractiveness of the investment climate in Kazakhstan.
“Kazakhstan remains the most attractive place for investment in Central Asia. Our country has managed to reach the pre-pandemic level of foreign investment inflows. Last year, foreign partners invested about $24 billion in our economy. Since independence in 1991, FDI in Kazakhstan has exceeded $380 billion. We are the largest recipient of FDI in the Central Asian region. Wide investment opportunities are opening up in agribusiness, mining and metallurgical industries, petrochemistry, healthcare, transport and logistics, tourism, engineering and others,” said Ardak Zebeshev.
Assel Suankulova, Deputy Director of the Investment Promotion and Marketing Department, and Altynai Mukanova, Project Manager, spoke at the forum on behalf of KAZAKH INVEST. Participants were informed about the measures of state support for investment activities in the Republic of Kazakhstan and the maintenance of investors on the one-stop principle provided by the national company.
At the forum, the participants got acquainted with the benefits of investing in both countries, representatives of Kazakh and North Macedonian businesses presented their companies, and after the forum they held B2B meetings for in-depth negotiations on further cooperation.
The Forum was organized by the Embassy of North Macedonia in the Republic of Kazakhstan and national company KAZAKH INVEST, with the support of the Ministry of Foreign Affairs of the Republic of Kazakhstan.
According to Kazakhstani customs statistics, trade turnover between Kazakhstan and North Macedonia in 2021 amounted to $1.67 million (export - 140.4 thousand; import - 1.53 million), which is 15% less than in 2020.
In January-June 2022, the trade turnover amounted to $8.4 million (export - 7.3 million; import - 1.1 million), which is 88.3% more than in the same period of 2021.
The main export goods of the Republic of Kazakhstan are products of animal and vegetable origin, finished industrial goods.
The structure of Kazakh imports is dominated by products of animal and vegetable origin, finished industrial goods, machinery, equipment, vehicles, instruments and apparatus, metals and metal products, textiles, products of chemical and related industries including rubber and plastics.