Kazakhstan, Switzerland expand trade, economic and investment cooperation

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NUR-SULTAN (TCA) — A Kazakh-Swiss Round Table was held in Nur-Sultan on November 22, with participation of the President of the Swiss Confederation Ueli Maurer and the Minister of Trade and Integration of Kazakhstan, Co-Chairman of the Kazakh-Swiss Intergovernmental Commission on Trade and Economic Cooperation Bakhyt Sultanov, as well as over 120 business representatives of the two countries, Kazakh Invest national investment promotion company reported.

During the round table, the parties discussed the further expansion of trade, economic and investment cooperation between Kazakhstan and Switzerland.

“I am sure that today’s roundtable meeting will give impetus to the development of business between the two countries. We have great opportunities to expand trade, economic and investment cooperation. And today we would like to discuss cooperation in joint investment projects of various fields,” said Ueli Maurer.

The Minister of Trade and Integration of Kazakhstan emphasized that the trade and economic partnership between Kazakhstan and Switzerland is at a fairly high level, urging businessmen of the two countries to explore additionally new investment cooperation opportunities in tourism, agriculture, machine building, and pharmaceuticals.

“Kazakhstan and Switzerland have considerable potential for the further development of trade, economic and investment cooperation. Switzerland accounts for 8% of the total foreign direct investments in the economy of our country,” Bakhyt Sultanov said.

Switzerland is one of the largest trading partners of Kazakhstan, which is among the top ten countries in terms of mutual trade. The trade turnover between the two countries for nine months of 2019 amounted to USD 1.9 billion.

The total volume of Swiss investments in the economy of Kazakhstan from 2005 to the first half of 2019 amounted to USD 24.2 billion. The scope of direct investments attracted in the first half of this year reached USD 1 billion.

Today, the Kazakh-Swiss Intergovernmental Commission on Trade and Economic Cooperation contributes to the expansion of bilateral economic relations. The co-chairman from the Kazakhstan side is the Minister of Trade and Integration Bakhyt Sultanov. On the Swiss side, Erwin Bollinger (Ambassador), Head of the Office for Bilateral Economic Cooperation, Commissioner of the Federal Council for Trade Agreements.

Sergey Kwan

TCA