Business news

MINSK, 15 June (BelTA) – The private sector of Kazakhstan is interested in taking manufacturing cooperation ties with Belarus to the next level, BelTA learned from Askar Arynov, Managing Director of the Kazakh national agency for export and investments Kaznex Invest, before the Belarus-Kazakhstan business forum began on 15 June.

The executive said: “We would like to present the investment opportunities that we have for establishing joint ventures. Among promising cooperation areas I can mention information technologies, mechanical engineering, and furniture industry. Apart from that, we would like to buy diesel locomotives and chemical fertilizers. Business is a two-way road. We invite Belarusian companies to implement joint projects in Kazakhstan.”

Askar Arynov underlined that business cooperation will allow promoting products to third-country markets. There are good examples of such cooperation. There are eight assembly enterprises in Kazakhstan. A joint venture to make cartridges has been established in Belarus. The possibility of setting up enterprises in the China-Belarus industrial park Great Stone is under consideration.

According to Askar Arynov, today’s forum will help establish new contacts, will contribute to higher trade and to increasing the choice of exports and imports. “All the conditions for stepping up trade between Belarus and Kazakhstan have been enabled in the Single Economic Space. Private companies are interested in establishing tight mutually beneficial relations,” he said.

Askar Arynov reminded that the Astana Expo 2017 is now in progress in the capital of Kazakhstan. He invited everyone to visit the expo. During the expo Belarus is represented by a national pavilion where visitors can learn about the latest Belarusian R&D projects and promising investment projects in an interactive way.

Belarusian-Kazakh business forums have been held every year for the last six years. Alexander Fedorchuk, Director General of the Minsk branch of the Belarusian Chamber of Commerce and Industry, noted that the forum’s main task is to restore the bilateral trade volume, which was close to $1 billion in 2014.

Ambassador of Kazakhstan to Belarus Yergali Bulegenov added that such business meetings are not a formality. “Every visit of representatives of our companies bears its fruits. Agreements worth over $20 million were secured in the last few years alone. Export by Belarusian companies represents over 90% of Belarus-Kazakhstan trade while Kazakh products are poorly represented on the Belarusian market. We have a large potential for cooperation. Results of the first quarter of the year indicate that figures are on the rise. I hope we will reach $1 billion within two to three years,” said the diplomat.

The Belarus-Kazakhstan business forum has been organized by Kazakhstan’s national agency for export and investments Kaznex Invest and the Minsk branch of the Belarusian Chamber of Commerce and Industry (BelCCI). The Kazakh delegation includes representatives of ten companies specializing in mechanical engineering, civil engineering, oil processing, electric technology products, food industry, and agriculture. Belarus is represented by about 50 companies. A business matchmaking session took place on 15 June. Members of the Kazakh delegation are expected to meet with top officials of the Belarusian Agriculture and Food Ministry and Belarusian Railways.