Kazakhstan-Czech business forum held in Astana

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ASTANA (TCA) — Development prospects of Kazakh-Czech trade and economic cooperation were discussed at a business forum in Astana, the Atameken National Chamber of Entrepreneurs of Kazakhstan reported on February 6.

Opening the event, the Chairman of the Chamber of Commerce of Kazakhstan Ayan Erenov noted the importance of the meeting in light of the decreased trade turnover between the two countries over the past two years. In his words, discussion of cooperation prospects in the B2B format will give a new impetus to trade and economic relations between Kazakhstan and the Czech Republic.

The Chairman of the Chamber of Deputies of the Parliament of the Czech Republic Jan Gamachek stressed that Kazakhstan is the largest trading partner of the Czech Republic in Central Asia, and the potential of bilateral cooperation is much bigger.

“Over the past two years there has been a significant decrease in trade between our countries. But it’s not that Kazakh or Czech production has lost their appealing traits, the global external factors have played their role. I am sure that both sides have the possibilities to be used to correct this. I see this as the purpose of this forum,” said Jan Gamachek.

Bakhytzhan Dzhaksaliyev, deputy energy minister of Kazakhstan and co-chairman of the Kazakh-Czech intergovernmental commission, said that today, 185 joint ventures with participation of Czech capital are registered in Kazakhstan, 107 of which are operating. The Czech Republic sells cars, spare parts, electrical equipment, furniture, glass products, and pharmaceuticals in Kazakhstan. For Kazakhstan an important area is the development of mechanical engineering, in particular, engineering technologies, Dzhaksaliyev said, adding that this sector is the strongest one in the Czech economy.

Dzhaksaliyev also believes that the present level of partnership between the two countries does not meet the existing potential. In his words, the gross inflow of direct Czech investments in Kazakhstan from 2005 to 2016 amounted to only $186 million.

Sergey Kwan

TCA