Kazakhstan, Belarus seek trade turnover of $1 billion by 2020

ASTANA – Kazakh First Deputy Prime Minister Askar Mamin announced at the Sept. 22 13th meeting of the Kazakh-Belarusian Intergovernmental Commission (IGC) for Trade and Economic Cooperation in Karagandy that trade with Belarus should be increased to $1 billion by 2020.


Photo credit: primeminister.kz

On the sidelines of the commission meeting, Mamin and his Belarusian counterpart Vasily Matyushevsky also discussed bilateral cooperation in trade, investment, industrial cooperation, agriculture, science and technology, transport and logistics.

Mamin noted the successful Kazakh-Belarusian relations, including participation in integration associations, primarily in the Eurasian Economic Union.

The sides noted an increase in bilateral trade in the seven months of 2017. In January-July, turnover amounted to $313.7 million, an increase of 75.6 percent compared to the same period last year.

He said Kazakhstan and Belarus have the opportunity to implement joint projects in the industrial, transport, logistics, space industry, agro-industrial complex, cultural, humanitarian, scientific and technical spheres.

The sides said they want to cooperate to integrate the transport and logistics infrastructures of the two states and the localisation and expansion of product manufacturing.

“Over the past years, we’ve been observing a stable dynamics of interregional cooperation. Today, there are more than 100 enterprises with Kazakh investment operating in Belarus. The Belarusian side is ready to continue providing comprehensive support in the implementation of investment projects, encouraging investments,” said Matyushevsky.

The sides considered creating a joint working group to cooperate on joint projects in livestock and crop development, land reclamation and irrigation.

The signing of the agreement on the establishment of the Kazakh-Belarusian Business Council between the Foreign Trade Chamber of Kazakhstan and the Chamber of Commerce and Industry of Belarus is planned for November 2017.

Get The Astana Times stories sent directly to you! Sign up via the website or subscribe to our Twitter, Facebook, Instagram, Telegram, YouTube and Tiktok!