Kazakhstan and Japan sign deals worth $1.2 billion


ASTANA (TCA) — At a Kazakh-Japanese business forum in Tokyo on November 7, the two countries signed 13 agreements worth US $1.2 billion. The forum took place as part of Kazakhstan President Nursultan Nazarbayev’s official visit to Japan, Sputnik news agency reports.

In particular, Kazakhstan and Japan finalized an agreement on the financing by the Japanese side of construction of a wind power plant in Kazakhstan’s Mangistau province, said the press service of Kazakhstan’s export promotion and investment agency Kaznex Invest.  

On November 7 there was a meeting of the intergovernmental commission which was held in the format of a business forum with the participation of around 350 companies from Kazakhstan and Japan.  

Deputy Minister of Investment and Development of Kazakhstan, Yerlan Khairov, said that Kazakhstan and Japan are currently implementing around 25 joint investment projects worth more than $4 billion in such sectors as energy, logistics, machine-building, pharmaceuticals, information and communications technology.

The business forum resulted in the signing of 13 commercial agreements totaling $1.2 billion in such spheres as chemistry and petrochemical industry, innovation technology, public-private partnership, energy, finance, construction materials production, trade, and tourism.  

The sides have confirmed agreements on Japanese financing of strategic investment projects in Kazakhstan, such as construction of a petrochemical plant in Atyrau, construction and operation of a wind power plant in the Mangistau province, and joint production of radioisotopes.

Sergey Kwan