ASTANA (TCA) — The Chamber of Commerce of Kazakhstan and the Industrial Modernization Center of Egypt have signed a memorandum of cooperation which will allow Kazakh companies to open up new export opportunities for agricultural and food products, the National Chamber of Entrepreneurs of Kazakhstan Atameken reported on February 21.
“Egypt is the largest importer of lamb and beef. Egypt imports about 100 thousand tons of meat annually. We believe that Kazakhstan may take up to 5 percent of this amount, that is to export 5 thousand tons of meat per year,” said Nuraly Bukeikhanov, deputy chairman of the Chamber of Commerce of Kazakhstan.
He said that today, trade between Kazakhstan and Egypt mainly consists of pharmaceutical products supplied by the Egyptian side, as well as raw materials and oil products from Kazakhstan. However, Bukeikhanov said, there is a huge potential for exports of agricultural products from Kazakhstan to Egypt, including meat, dairy products, wheat, and flour.
“The main purpose of the signing of the Memorandum is the intensification of cooperation between our countries in the sphere of trade, economy and industrialization. As part of the EXPO in Astana there will also be a variety of events with participation of Kazakhstani and Egyptian companies, which will also give an impetus to the development of our relations,” said Ahmed Taha, executive director of the Industrial Modernization Center of Egypt.
Last year, trade between the two countries amounted to US $49 million, including $17 million of imports of Egyptian products to Kazakhstan and $32 million of Kazakhstan’s exports to Egypt.
