24 October 2018, 09:58

Bakytzhan Sagintayev and US Commerce Secretary Wilbur Ross discuss prospects for expanding trade and economic cooperation

October 24 in Astana, Prime Minister of Kazakhstan Bakytzhan Sagintayev met with US Secretary of Commerce Wilbur Ross.

At the meeting, prospects for further expansion of trade, economic and investment cooperation between the countries were discussed, as well as issues of implementing the agreements reached during the visit of the President of Kazakhstan Nursultan Nazarbayev to the United States in January 2018. Along with the traditional sectors of interaction, such as energy and agriculture, the parties paid attention to the prospects for the development of mutually beneficial relations in the field of innovation, chemistry, petrochemistry, engineering, infrastructure, transport and logistics, finance, space technology, etc.

The trade turnover for the first 8 months 2018 amounted to $1.462 billion, which is 29% higher compared to the same period in 2017 ($1.133 billion), and the inflow of investments from the United States in the first half year increased by 44.7%.

According to the National Bank of Kazakhstan, in the first half of 2018, direct investment from the US to Kazakhstan amounted to $2.79 billion, which is 44.7% more compared to the same period in 2017 ($1.93 billion). In general, as of July 1, the gross volume of FDI from the US to the economy of Kazakhstan since 2005 amounted to $33.76 billion.

In the past six months alone, more than 60 American companies visited Kazakhstan with the aim of holding business negotiations and meetings. Today, more than 700 American companies successfully work in Kazakhstan.

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