development in Kazakhstan

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The volume of bilateral trade between Kazakhstan and Malaysia increased almost fourfold compared with 2017 and amounted to $478 million in 2018, Trend reports with reference to the Ministry of Foreign Affairs of Kazakhstan.

Exports from Kazakhstan reached $351.7 million, while imports from Malaysia reached $126.1 million.

Diplomatic relations between countries were established 27 years ago. In 2014, the countries reached an agreement on the promotion of bilateral relations to the level of "all-round partnership".

In 1996, Kazakhstan and Malaysia opened their embassies in Kuala Lumpur and Almaty, respectively.



The president of Kazakhstan visited Malaysia three times (in 1996, 2006, 2012), and Malaysian top management visited Kazakhstan four times (in 1996, 2003, 2011 and 2014).

The countries cooperate in the fields of oil and gas industry and oil and gas services, Islamic finance, housing and infrastructure construction, agriculture, halal industry, e-commerce, tourism and cyber security.

Kazakhstan, alongside with Malaysian companies and investors, implement long-term projects in the oil and gas, agricultural and construction sectors for a total amount of over $1 billion. About 1,000 Kazakhstan students study in Malaysian universities.
 

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Kazakhstan negotiates with a few Indian tractor makers including Mahindra & Mahindra company for the purchase of tractors and agri-input mechanisation equipment to boost the agriculture, Trend reports with reference to the country's ambassador in India Iskander Baitassov.

"We are holding dialogues with a few Indian tractor makers. Negotiation with Mahindra & Mahindra is ahead than others. We are also inviting another tractor maker Sonalika for an assembly line in Kazakhstan," he said.

"Mahindra is seeking protection and assurance on sales. This is not possible. However, we will offer help to export the company’s products to the markets of other countries where Kazakhstan has preferential access," Baitassov stated.



He said the Indian companies had shown greater interest in Kazakhstan in the past few years.

He expressed optimism that there will be healthy growth in bilateral trade to $1.5 billion in 2019 compared to 1.2 billion in 2018.
 

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Kazakhstan and South Korea have signed new economic cooperation program called "Fresh wind" for 2019-22,Trend reports citing the Ministry of Industry and Infrastructural Development of Kazakhstan.

Kazakhstan-S.Korea Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation is to supervise the program.d

Some 58 projects of the program are to cover such economic spheres as transport and logistics, construction, infrastructural development, mining and metallurgy sectors, trade and economic cooperation, energy, innovation and ICT, agriculture, finance, health care as well as cooperation in culture, tourism and education system.

Roman Sklyar, Minister of Industry and Infrastructure Development of the Republic of Kazakhstan and Son Yoon Mo, Minister of Trade, Industry and Energy of the Republic of Korea have signed the program.

Out of all 40 projects in the portfolio of Kazakhstan-Korea Innovative Industrial projects, 19 of them were already realized using $1.9 billion, 6 more are in the process of realization using $2.1 billion and 15 promising projects to be realized for $3.2 billion that are a part of the "Fresh wind" program.

Today there are more than 500 companies in Kazakhstan with South Korean capital.
 

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Kazakhstan is looking to export electricity to EAEU countries, where it is also a member, Trend reports citing KazInform.
The Eurasian Economic Union (EAEU) is an economic union, which includes Armenia, Kazakhstan, Russia, Belarus, Kyrgyzstan.
"In the last three years the total volume of exported electricity reached 13.789 billion kWh (4 percent of the volume produced). Within the framework of the Eurasian Economic Community's unified electricity market, formation the protocol between EAEU countries is be signed before March 2019. The event is to coincide with the five year anniversary of the Eurasian Economic Community agreement signing," said Kanat Bozumbayev, the minister of energy.
The minister also stated that the question of export expansion is in the process of consideration.
 

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Some 70 hectares of territory was allocated for the construction of a sugar plant in Kazakhstan’s Aksu city of Pavlodar region, Trend reports referring to Pavlodarnews.
"Russian company Bma Russland developed the feasibility study of the project, the technical specifications on connection to engineering networks systems were also received. Currently the budget and design documentation is being developed," the report said.
"Furthermore, the negotiations with potential investors, i.e. companies from Russia, China and Spain are taking place," reads the message.
The construction of the plant is to be finished by 2021. The preliminary cost of the project is estimated to be $150 million. Furthermore, Pavlodar region possesses all necessary resources for the project realization, i.e. cheap electricity, large river and an increase of irrigated land area.
"The plant is to process up to 6,000 tons of beets and to manufacture 100,000 tons of sugar per day, which accounts for 20 percent of Kazakh market demand. The manufactured product is also to be exported to Russia, China and Europe," the statement said.
 

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I have many fantastic Kazakh friends and they all tell me about Kazakhstan's deep-rooted problems (especially corruption and nepotism). But I wish all the best for Kazakhstan and hope to see great progress in all aspects of Kazakh society.
 

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