Kazakhstan to allocate KZT500bn for expanding its export destinations

28 January, 2019, 18:12 668
Kazakhstan to allocate KZT500bn for expanding its export destinations

They in the Ministry of Industry and Infrastructure Development of Kazakhstan talked on Kazakhstan’s export plans. 

At a press conference in the Government, the Vice Minister of Industry and Infrastructure Development, Arystan Kabikenov, has noted Kazakhstan plans to expand its export destinations. 500 billion tenge will be allocated to this end,  BNews.kz correspondent reports.

“In a bid for preventing losses in traditional export markets as well as expanding export destinations and product nomenclatures, 500 billion tenge has been allocated for the next three years,” said Arystan Kabikenov.

The funds are to be allotted to financing export-orientated projects, at the expense of the previously allocated revolving funds – around 220 billion tenge; another funding to provide credits to importers and exporters by the means of the three instruments of second-tier banks – 80 billion tenge; increasing the charter capital of Kazakh Export National Company to 68 billion tenge and introducing a new type of state guarantee – 102 billion tenge; introducing the new transport cost reimbursement mechanism for local exporters – 20 billion tenge as well as enhancing the traditional types and introducing new service support instruments – 10 billion tenge.

“It is planned to expand export destinations of products by railroad to Egypt, Azerbaijan, Uzbekistan this year, ammonium nitrate – to Georgia; phosphate and potash fertilizers – to the USA, Czech, Germany and Poland; ice-cream – to Mongolia; water, milk, meat – to Afghanistan, Singapore, China; cars – to Kyrgyzstan, fittings – to Tajikistan; Nature Bogato groats – to Tatarstan, safflower oil – to Japan,” said Kabikenov.

He has also noted that new export goods appear in Kazakhstan – they are sodium cyanide, semolina, ammonium sulphate and non-alcoholoc beverage.

“It is planned to export sodium cyanide to Russia, semolina – to Russia, Kyrgyzstan, Uzbekistan, China, Europe, Iran; Big-Bags to Russian and Tajikistan, ammonium sulphate – to Russia, Kyrgyzstan, Tajikistan; chrome items and non-alcohol beverage – to Japan, Great Britain, Turkey, Afghanistan, Turkmenistan, Belarus; building services, synthetic materials, microfiber, iron articles, buses – to the neighboring countries,” said Arystan Kabikenov.