The Prime Minister of Kazakhstan

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Kazakhstan — Greece’s main partner in Central Asia

05 February 2018, 17:10

Today, the II Kazakh-Greek business forum took place in Astana. More than 70 representatives of business circles of the two countries — foreign experts and investors, representatives of the Government of Kazakhstan, national companies, financial institutions, Kazakh and foreign businessmen, took part in Astana.

Within the framework of the Forum, bilateral meetings were held with such companies as FREZYDERM S.A. (pharmaceutical production), Department of Cosmetics R & D (FREZYDERM), VIOHALCO S.A. (the leading holding group of metalworking companies in Europe), Upstream (a mobile commerce platform that accelerates market trading), PHARMEX S.A. (various studies and on the development of innovative products), VK Premium (advisory services in the private and public sectors), ADELCO S.A. (the largest Greek pharmaceutical company), METKA (construction of large-scale projects EPC (Engineering-Procurement-Construction), SABO SА (brick and tile industry).

In the welcome speech, the Vice Minister for Investments and Development of the Republic of Kazakhstan, Arystan Kabikenov, spoke about the key tasks and objectives of the event.

"I would like to note the message made in the current Address of Elbasy Nursultan Abishevich Nazarbayev — regarding the course for the introduction of new technologies and the digitization of all sectors of the economy, primarily such industrial sectors with high labor productivity as engineering, chemical, petrochemical, oil refining, metallurgical and construction industry. The Greek companies that came to today's event fall under these priorities," the Vice Minister of the MID RK said.

During the forum, the participants presented the investment opportunities of Kazakhstan and Greece, discussed issues of bilateral cooperation and prospects for their development.

For reference:

In 2017, the foreign trade turnover between our countries amounted to $980 million, an increase of 10% compared to the same period in 2016. Import to Kazakhstan from Greece increased by 25%, amounted to $16.5 million (2016 – $13.2 million).

The main import products are medicines $5.3 million (34.8%), tobacco $1 million (6.6%), aluminum foil $1 million (6.4%), clothing $0.9 million (6.1%) , personal hygiene products $0.8 million (5.1%), jams, pastas $0.7 million (4.4%), copper pipes $0.6 million (3.8%), fresh or chilled fish $0.5 million (3,4%), plastic ware $0,5 million (3,1%), lifts and skip hoists $0,4 million (2,6%), kiwi $0,3 million (2,1%), etc.

The export from Kazakhstan to Greece amounted to $963.5 million, which is 10% more than for the same period in 2016 ($871 million), due to the growth of aluminum supplies.

More than 80% of exports are in oil, which demonstrates the great unrealized potential of mutual trade in other areas, including food and heavy industry.

The main export commodities are crude oil $712.6 million (81.8%), aluminum $111.6 million (12.8%), tugboats and pusher vessels (temporary import/export) $29 million (3.3%), floating lighthouses (temporary import/export) $15.9 million (1.8%), internal combustion engines $1.1 million (0.1%), etc.