• KGS/USD = 0.01137 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09283 0%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01137 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09283 0%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01137 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09283 0%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01137 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09283 0%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01137 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09283 0%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01137 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09283 0%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01137 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09283 0%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01137 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09283 0%
  • UZS/USD = 0.00008 0%

Viewing results 1 - 6 of 159

Kazakhstan and China to Cooperate on Innovative Technology

On 23 May, the Ministry of Digital Development, Innovation and Aerospace Industry of Kazakhstan hosted the first meeting of the Subcommittee on Innovative Cooperation of the Kazakh-Chinese Intergovernmental Cooperation Committee. During the meeting in Astana, Kazakhstan’s First Vice Minister of Digital Development, Innovation and Aerospace Industry Kanysh Tuleushin, and Deputy Minister of Science and Technology of China Chen Jiachang discussed their respective countries’ cooperation in developing the 5G network, aerospace industry, and e-commerce. The subcommittee agreed to expand cooperation in the implementation of joint scientific and innovative projects in space research, the use of microsatellites, monitoring agriculture and natural disasters using remote sensing, digitalization of the agricultural sector, and seismic monitoring. An agreement was also reached on training young talent in the field of innovation, including short-term internships and joint scientific projects. The co-chairs of the subcommittee pledged to exchange information on current developments in scientific and technological innovations in China and Kazakhstan.  

Kazakhstan and South Korea to Strengthen Economic Cooperation

On May 23, Minister of Industry and Construction of Kazakhstan Kanat Sharlapaev participated in the 10th meeting of the Kazakh-Korean Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation. Regarding the strength of economic ties between Kazakhstan and South Korea in industrial cooperation, Sharlapaev reported that the current implementation of 15 joint investment projects worth $854.4 million will create over 4.7 thousand jobs. To date, seven projects involving the production of buses, trucks, and elevators have been launched in Kazakhstan, costing $188.9 million and creating over 2.7 thousand jobs. In 2023, with the participation of Korean companies including Daewoo Bus Global Corporation, Hyundai, KIA, and the Youngsan Glonet Corporation, the output of Kazakhstan’s electrical engineering and automobile industries reached $8.4 billion. In the same year, 34.1 thousand tons of ferroalloys worth $55.4 million were exported to the Republic of Korea. A joint project between Mineral Product International and SIMPAC Group is now underway to produce ferroalloys in Kazakhstan’s Pavlodar region. The minister confirmed his country’s readiness to cooperate with Korea in the energy sector by urging Korean companies to support the modernization and construction of new power plants in Kazakhstan. Finishing on an optimistic note, Sharlapaev announced, “Kazakhstan sees great prospects for the further development of cooperation with the Republic of Korea in all directions.”    

Kazakhstan and Singapore Join Forces to Boost Economy and Transport

On 23 May, Kazakhstan President Kassym-Jomart Tokayev’s made his first state visit to Singapore to engage in meetings with Singaporean President Tharman Shanmugaratnam focusing on connectivity, critical raw materials, and economic cooperation. Over 140 Singaporean companies and joint ventures currently operate in Kazakhstan. The country has invested over $1.7 billion in the Kazakh economy and bilateral trade is forecast to exceed $2 billion. Tokayev hailed Singapore as a time-tested and reliable partner of Kazakhstan and in talks with Singapore Prime Minister Lawrence Wong, expressed confidence that his visit would strengthen bilateral relations. Citing the complementary nature of their countries’ economies, Lawrence Wong stated that Singapore can provide a gateway to further Kazakhstan’s interaction with ASEAN countries and in turn, Kazakhstan can facilitate Singapore's rapprochement with Central Asian countries. Regarding economic and investment cooperation, the parties reaffirmed their mutual commitment to expanding joint ventures in green energy, transport and logistics, digitalization, finance, agribusiness, connectivity, e-commerce, and mining and processing of critical minerals. President Tokayev and Prime Minister Wong welcomed the implementation of Alatau City (G4 City); a thousand-kilometer Special Economic Zone to be developed by Kazakhstan with support from Singaporean company Surbana Jurong in the region of Almaty. Tokayev expressed his gratitude to the Singaporean company for developing the comprehensive master plan for the project which he described as a catalyst for boosting both his country’s economy and that of Central Asia. Tokayev and Wong also commended the partnership between Singapore’s PSA International and Kazakhstan’s national railways company Kazakhstan Temir Zholy (KTZ) aimed at increasing the potential of the Trans-Caspian International Transport Route (TITR). A Memorandum was signed by KTZ and PSA to further develop Kazakhstan’s transport and transit potential and an agreement made to increase the volume of cargo transit through Kazakhstan by means of a synergy of their assets in China. Today, KTZ operates railway terminals in China in the dry port of Xi'an and the seaport of Lianyungang. Assets held by PSA include marine terminals in six ports and railway terminals in 13 cities in China. Speaking at the Kazakhstan-Singapore Business Forum later in the day, Tokayev emphasized that because it offers “the shortest and most sustainable route from Central and East Asia to Europe,” TITR has the potential to radically enhance Eurasian cooperation. The Kazakh president outlined promising areas of cooperation between the two countries, and announcing Kazakhstan's readiness to supply critical raw materials and natural resources to Singapore, stated: “Considering that global demand for rare metals will quadruple by 2040, Kazakhstan, which has approximately 5,000 unexplored deposits, can become a reliable partner for the joint development of this potential. We have high hopes for long-term cooperation with the Indorama company, which is interested in exploring copper and phosphate deposits in Kazakhstan.” Tokayev also called on Singaporean companies to expand partnerships in the production of clean energy and the transfer of technology and expertise.

Kazakh PM Meets With German Rhenus Group to Discuss Middle Corridor

Cooperation in the transport and logistics sectors were discussed at a recent meeting between prime minister of Kazakhstan Olzhas Bektenov and the chairman of Rhenus Group Tobias Bartz. Rhenus Group is one of the 25 largest logistics companies in the world, and has a network of 70 terminals in Europe, as well as 22 container types. At the meeting, the parties considered the current projects and discussed the prospects of the creation of new Kazakh-German enterprises to increase the transit capacity of Kazakhstan through the modernization of warehousing infrastructure and the development of railway transportation. Tobias Bartz noted Kazakhstan's increasing role in global logistics and expressed interest in the creation of new territories with the involvement of Kazakh companies to increase terminal capacity. This will connect the supply chain of Europe with Central Asia. Olzhas Bektenov emphasized the readiness to work openly with investors to fully disclose the transport logistics and transit potential. He added: "The Government of Kazakhstan intends to maximize the transport and logistics potential of the country. We are open to cooperation in the realization of joint investment projects. For our part, we guarantee a stable and predictable investment climate with the creation of favorable conditions for business." Bektenov also noted that major transcontinental transportation corridors -- the shortest routes from Europe to China and Southeast Asia -- pass through the territory of Kazakhstan. Kazakhstan is actively working with Azerbaijan and Georgia to reduce the time of passage of goods along the Trans-Caspian international transportation route. Over the year, the total transit time along the Middle Corridor has almost halved.

Focus on Ethnic Germans in Kazakhstan

On 21 May, Astana hosted the 20th meeting of the Kazakh-German Intergovernmental Commission for the Affairs of Ethnic Germans in Kazakhstan, co-chaired by Deputy Minister of Foreign Affairs of Kazakhstan Roman Vassilenko and Germany’s Federal Government Commissioner for Matters Related to Ethnic German Resettlers and National Minorities, Member of the Bundestag, Natalie Pawlik. Representatives of the two countries’ ministries and organizations, including the Wiedergeburt (Rebirth) foundation also participated. The agenda focused on cooperation between Kazakhstan and Germany to support the cultural, linguistic, and national identity of Kazakh Germans, as well as the implementation of joint projects in science, education, and culture. The parties reiterated their mutual interest in expanding partnerships within the framework of the Intergovernmental Commission and strengthening the “living bridge” connecting Kazakhstan and Germany. During World War II, Stalin's henchman, Lavrentiy Beria supervized the mass deportation of the Volga Germans, Chechens, Ingush, Pontic Greeks, Crimean Tatars, Balkars and the Karachays, largely to Central Asia. With the crowded wagons stopping only to bury the dead in the snow, approximately 30% perished. According to statistics, 226,000 ethnic Germans reside in Kazakhstan, today, whilst some one million Germans have moved from Kazakhstan to their ancestral homeland. Emphasizing the importance of Kazakhstan’s multi-ethnic population in the successful development of the country, Vassilenko stated that: “Thousands of kilometers separating our countries do not hinder the development and deepening of Kazakh-German relations, as well as the promotion of rapprochement of our peoples. By virtue of history, Kazakhstan has a large German diaspora, while many former citizens of Kazakhstan have resettled in Germany.” Ethnic Germans are represented in all spheres of life in Kazakhstan. The Kazakh-German Center in Astana, the Kazakh-German University in Almaty, the Kazakh-German Institute of Sustainable Engineering in Aktau, the German Drama Theatre, as well as the Deutsche Allgemeine Zeitung newspaper play significant roles in strengthening cultural and humanitarian interaction between Kazakhstan and Germany. Natalie Pawlik welcomed the dynamically developing bilateral cooperation and emphasized that Germany regards Kazakhstan as a key partner in its relations with Central Asia. In her commendation of assistance provided by the German Federal Government to the Germans of Kazakhstan, she mentioned that the study of the German language in Kazakhstan can not only contribute to the preservation of the ethnic Germans’ national identity but prove beneficial to professionals engaging in joint investment projects.    

Amid Russian Sanctions, Kazakhstan Can Benefit From Shanghai Cooperation Organization

After Astana hosted the latest meeting of the Council of Foreign Ministers of the Shanghai Cooperation Organization (SCO) member states, Almaty-based financial analyst and expert in cross border business and asset value recovery, Rassul Rysmambetov believes that Kazakhstan still has huge potential in the organization that is yet to be utilized. The SCO was founded in 2001 by the leaders of China, Russia, Kazakhstan, Tajikistan, Kyrgyzstan and Uzbekistan. In 2017 India and Pakistan joined, followed by Iran in 2022. Belarus is expected to join the SCO this summer. The association's main objectives are to strengthen stability in the region, fight terrorism and drug trafficking, as well as develop economic cooperation, energy, scientific, and cultural partnerships. At the Astana meeting 22 decisions were adopted. The SCO's secretary general Zhang Ming praised Kazakhstan's work as the organization's chair, saying: "Since July 2023, within the framework of Kazakhstan's chairmanship in the SCO, the Kazakh side has organized more than 180 events in various fields. Kazakh partners have put a special emphasis on economic, investment, transportation, cultural and humanitarian issues." Sources report that Kazakh president Kassym-Jomart Tokayev met with the foreign ministers of the other SCO member states. He mentioned that more than 100 large-scale events have been held recently, including the SCO digital, tourism, and energy forums. "Work on the SCO project 'Spiritual Sanctuaries' is being completed. On our initiative, 2024 has been declared the SCO Year of Ecology. The government of Kazakhstan continues to prepare for several additional significant events in the spheres of energy, transportation, and culture. Of course, we pay great attention to the upcoming Astana SCO summit," Tokayev said. Financial analyst Rasul Rysmambetov, in a conversation with The Times of Central Asia, spoke about the SCO's significance on a global scale. "Its member states have a combined population of over three billion people," he said. "The SCO has not undergone any serious changes in its 22-year existence. Of course some countries try to promote a political agenda, but the organization is focused on economic and security interests." "Of course, the SCO benefits Kazakhstan in the context of western sanctions against Russia, because we have China, Pakistan, and Russia, all of which are large countries that are markets for our goods. Of course, we must open markets for them, but we are open to the goods of many countries within the WTO. Concerning Kazakhstan, sanctions are not an obstacle to the work of the SCO. We do not trade in weapons, so there are no problems. Members of the organization see sanctions restrictions in terms of re-exports, and everything works fine in terms of ordinary, non-sanctioned goods," Rysmambetov added. Regarding Belarus's imminent accession to the SCO, he said: "It's beneficial for us. We can't produce and sell much yet, but at least we'll earn on transit. This is an opportunity to develop our logistics, improving our export prospects when more production facilities are launched in Kazakhstan."

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