Kazakhstan, Switzerland’s foreign trade turnover increased by 14%

11 July, 2018, 09:06 328
Kazakhstan, Switzerland’s foreign trade turnover increased by 14%

Over the last 12 years, the gross inflow of direct investments from Switzerland to Kazakhstan has exceeded 20 billion dollars.

Aktau (West Kazakhstan) held a meeting of Minister for Investments and Development of Kazakhstan Zhenis Kassymbek with head of the Department of Economic Affairs, Education and Research of Switzerland Johann N.Schneider-Ammann as part of the visit of a Swiss business delegation to Kazakhstan, BNews.kz reports with a reference to a press service of the Ministry for Investments and Development of Kazakhstan.

Zhenis Kassymbek noted that in 2017 the foreign trade turnover between Kazakhstan and Switzerland exceeded 3 billion US dollars that was 14% higher compared to that in 2016. Exports of Kazakhstan to Switzerland over the same period also increased by 14%.

“Switzerland is a strategic and important trade and economic partner for Kazakhstan in Europe. Our today’s meeting once more confirms the strong intention in further strengthening of trade and economic ties, expanding the spheres of mutual cooperation in the sectors of mutual interest,” said the Minister for Investments and Development of Kazakhstan.

Over the last 12 years, the gross inflow of direct investments from Switzerland to Kazakhstan has exceeded 20 billion US dollars. To data, Kazakhstan has more than 300 joint enterprises with the participation of the Swiss capital in such sectors as energy, transport, innovation, medicine and others.

Johann N.Schneider-Ammann noted that the visit was aimed at strengthening bilateral cooperation and told about the development of innovations and digitalization in Switzerland.

The Minister for Innovations and Development of Kazakhstan expressed readiness for further strengthening of bilateral cooperation.

Following the meeting, a joint statement on the intention to conclude an agreement on mutual recognition of stamps on precious metals and items made of them was signed.

“The conclusion of the agreement will facilitate the increase of sales of these items between our states, as well as will open the possibility of mutual entry to the markets of our producers. It should be noted that in 2016 a national law of the Republic of Kazakhstan “On precious metals and precious stones” was adopted, in this connection, the expansion of cooperation in this direction is current,” says the official report.

After the signing of the joint statement, a further procedure of national agreement and adoption of a relevant agreement between the Federal Council of the Swiss Confederation and the Government of Kazakhstan on mutual recognition of a stamp of precious metals and items made of them follows.

During the visit of the Swiss delegation got familiarized with such production capacities as Port Kuryk LLP, the Aktau Sea Northern Terminal, subzones of No.1 SEZ Morport Aktau, Kazakhstan Pipe Traders LLP (Tenaris) and JSC Arcelor Mittal Tubular Products.