The Prime Minister of Kazakhstan

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B. Sagintayev meets with Vice Prime Minister, Minister of Foreign Affairs of Georgia, M. Janelidze

16 May 2018, 14:00
Astana
Photo: primeminister.kz

Today in Astana within the framework of the Astana Economic Forum, Prime Minister Bakytzhan Sagintayev met with Vice Prime Minister and Minister of Foreign Affairs of Georgia, Mikheil Janelidze.

At the meeting, issues of deepening mutually beneficial trade and economic cooperation between the two countries in energy, transport and logistics, tourism, culture, health care and education, expansion of mutual trade in new directions, export of processed and raw materials in the chemical industry, machine building, construction, agriculture, including Kazakh grain, and others were discussed. Questions of interaction between state bodies, regions and business communities of the two states, active participation of Georgian companies in the work of the Astana International Financial Center were also considered.

Another main focus was the development of investment cooperation. Over the past 12 years, the volume of Kazakhstani investments in the Georgian economy amounted to more than $406 million, gross inflow of direct investments from Georgia to Kazakhstan totaled $45.9 million.

Kazakh companies are ready to supply electric locomotives for the Georgian Railways and Kazakh buses for updating the bus fleet in Tbilisi. Kazakh Export offers the Georgian side its long-term trade financing for the export insurance program and joint implementation of mutually beneficial projects.

 

For reference: According to 2017 results, the commodity turnover between Kazakhstan and Georgia increased by 56.4% compared to 2016 and amounted to $64.3 million. Kazakhstan's exports to Georgia in 2017 doubled and amounted to $38.4 million (2016 — $19.4 million). Import from Georgia for the past year totaled $25.9 million, which is 19% higher than in 2016 ($21.7 million). Commodity turnover for January-February 2018 was $8.7 million, which is 80.2% higher than for the same period last year ($4.8 million).

Conditions for foreign capital constantly improve in Kazakhstan. Access to the markets of Central Asia and China are opening up for Georgian companies in Kazakhstan. Today in Kazakhstan, there are about 120 joint ventures with the participation of Georgian capital in such areas as energy, transport, innovation, medicine, and others. As of April 1, 2018, 236 legal entities, branches and representative offices with Georgian participation were registered in Kazakhstan, of which 123 are active.

 



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