Astana hosts a high-profile Kazakh-French business forum
Kazakhstan and France have a vast potential for expanding cooperation, said Kazakhstan’s Vice Minister of Industry and Trade Erkhat Iskaliev speaking at the Kazakh-French business forum in Astana.
According to customs statistics, the bilateral trade turnover for Jan-Aug 2009 totaled USD 2.3 million, with imports making up USD 731000. The overall French investments into the Kazakh economy from 1993 to the Q1 2009 totaled USD 4.8 billion.
“However, I think this figure does not reflect the potential for cooperation. Today we have a great opportunity to change the situation. Kazakhstan has put in place all conditions to make sure foreign investments are effective. The state has softened the taxation burden, done much to remove administrative barriers and simplify tax and customs administration. In 2003 we adopted a legislation setting a legal framework for investments and introducing incentives for investors. In the post-crisis period we seek to concentrate on industrialization”, the Vice Minister said.
He also emphasized that a 5-year plan of accelerated industrial development is being drafted to optimize Kazakhstan’s resources and ensure quality changes of the economy structure. Priority will be given to projects to make products with a high value-added in such realms as agribusiness, construction, metallurgy, oil processing, chemicals, infrastructure and electric power.
“I believe French companies could contribute to development of the mentioned sectors through experience, technology and brainforce”, Erkhat Iskaliev summed up.
Kazinform
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