ASTANA (TCA) — A Kazakh-Spanish business forum was organized in Astana as part of the official visit of Spanish Minister of Foreign Affairs and Cooperation Jose Manuel Garcia-Margalit to Kazakhstan, the Atameken National Chamber of Entrepreneurs of Kazakhstan reported on April 26.
The forum was organized by the Embassy of Spain in Kazakhstan and the Chamber of Commerce of Kazakhstan.
During the forum an agreement was signed between the Chamber of Commerce of Kazakhstan and the Chamber of Commerce of Spain on the establishment of the Kazakh-Spanish Business Council.
More than 20 Spanish companies expressed their interest in investment, technology transfer, and cooperation in the framework of public-private partnership in such sectors as construction, renewable energy, transport, infrastructure facilities, telecommunications, and agriculture in Kazakhstan.
Ruslan Sultanov, acting chairman of the Chamber of Commerce of Kazakhstan, emphasized the special role of Spanish investments in Kazakhstan, particularly in non-oil sectors: “I am glad that such a representative forum is attended by major international concerns, such as Airbus and Talgo. For us, cooperation with such brands means not only the flow of investment and technology transfer, but also motivates for continuous improvement of our production.”
According to Nurzhan Altaev, Deputy Chairman of the Atameken National Chamber of Entrepreneurs of Kazakhstan, direct investments from Spain in Kazakhstan in 2005-2015 amounted to 183.5 million US dollars, and from Kazakhstan to Spain 14.4 million US dollars. Trade turnover between the two countries in 2015 amounted to $1.439 billion, a 47.5-percent increase compared to 2014. Imports from Spain to Kazakhstan amounted to $219.9 million, while exports amounted to $1.2 billion. More than 88% of Kazakhstan’s export to Spain accounts for oil, and the imports from Spain to Kazakhstan include electric machines and equipment (motors and generators), pharmaceutical products, and railway rolling stock.
