Economic News in Brief

Due to the implementation of the state programme of preferential car loans, sales of domestic car assembly rose by almost one third in April, according to the Association of the Kazakhstan Car Business (AKCB).“Sales of domestic vehicles increased by 31.1 percent compared to the March figures. So, in April, 1,168 cars were sold. Among the favourites there were such brands as Hyundai Elantra, Toyota Fortuner, SsangYong Nomad, Skoda Rapid, Iveco 682 Tipper and Peugeot 301,” said the statement. Brands such as Renault, Toyota, Subaru, Geely, Iveco and Volkswagen have shown significant quantitative growth. A total of 34,981 units of new cars have been sold since the beginningof the year. It is worth noting, however, that compared to the same period of last year the market fell 28.29 percent (from 48,788 units). According to AKCB, the number of cars imported from Russia also increased by 8.33 percent compared to the previous month. The average price for a car remained at the April level of $18,887.

 

The Department of State Revenues of the Mangistau region reported May 18 that raw oil accounts for over 99 percent of the total export volume of the region. At the end of the first four months of 2015, the export customs duty revenues were about 46.793 billion tenge (US$251.8 million), which is 19 percent less compared to 2014. The head of the energy customs post Yerzhigit Abaiuly noted that the decline is due to the situation on the world market. Since June 2014, exports of crude oil gradually began to decline and in August the Kazakh Ministry of Energy was focused on the saturation of the domestic market on a priority basis. Today, the leaders among the buyers of products from the Mangistau region are Switzerland, Austria, the Netherlands, Italy and France. Oil exports from the territory of the region are realised through the Aktau seaport, as well as through the Uzen-Atyrau-Samara pipeline.

 

The Kazakh Ministry of Energy reported that a seminar on the development of clean energy and cooperation between Kazakhstan and China in the field of peaceful use of nuclear energy was held May 18 in Astana. The ministry clarified that the event was organised by the China General Nuclear Power Group (CGN). “Progress reports on the development of China’s nuclear power industry were presented at the event, including reactor technology, security systems and nuclear fuel engineering capabilities for the construction of energy facilities for CGN, as well as reports on the development of wind and solar energy,” noted the ministry. The seminar was attended by representatives of the Kazakh Ministry of Energy, Samruk Kazyna National Welfare Fund, Kazatomprom, Samruk Energo, KEGOC, Kazatomprom-Demeu, National Nuclear Centre, Institute of Nuclear Physics and Nuclear Society of Kazakhstan, as well as Gumilev Eurasian National University.

 

Kazakh Minister of National Economy Yerbolat Dossayev met with the Saudi Arabian Minister of Industry and Commerce Taufik Ar-Rabia May 14 to discuss issues of cooperation between the two countries. The sides discussed topics of trade-economic relations and investment cooperation. “The interests of Astana and Riyadh coincide on many issues of regional and international issues and economic cooperation, which reflects the friendly nature of cooperation between two countries,” said Dossayev. During the talks, Dossayev invited Saudi Arabia to actively participate in the international exhibition EXPO 2017, noting that an Astana financial centre will be created on the basis of the high-tech infrastructure of the expo,which will make all investors feel as comfortable and secure as possible. The trade turnover between Kazakhstan and Saudi Arabia in 2014 amounted to $13.4 million.

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