Kazakh-Slovak roundtable encourages increased bilateral economic cooperation

NUR-SULTAN – Kazakh and Slovak officials hosted a business roundtable Jan. 21 in Nur-Sultan to discuss bilateral trade and economic cooperation as well as to sign memorandums of understanding.

Photo credit: Kazakh Invest.

“It should be said that more than 40 countries with Slovakian participation already work in Kazakhstan. … Interest to our country is significant,” said Kazakh Ambassador to Slovakia Roman Vassilenko.

Vassilenko added that agriculture has the potential for increased cooperation as Slovakian interest in Kazakhstan grows.

“Agriculture, it should be noted, and the high-quality processing of agricultural products that are present in Slovakia, we are also interested in. Slovakia is interested both in attracting our investments, and, naturally, in investing in our economy. And we very much hope that according to the results of today’s events, as well as the results of the signing of three memorandums of cooperation, our turnover will increase,” added Vassilenko.

Viktor Borecky, a department director at the Slovakian Ministry of Foreign Affairs, said Slovakia sees potential in Kazakhstan due to its oil and uranium reserves as well as import potential.

“For us Kazakhstan is a very interesting country, because it develops so rapidly in every direction. Also, from the perspective of a Slovakian import, it’s very important that Kazakhstan has oil reserves, uranium ore reserves and other natural resources. We also import. Our businessmen have a major interest towards Kazakhstan, they see opportunities for mutually beneficial cooperation here. So many of them came here today. Personally, I worked here for four years, from 2007 to 2010, and I see that there are opportunities. It’s great that Kazakh companies are also starting to emerge in Slovakia,” said Borecky.

During the roundtable, Kazakh Invest and SARIO, the Agency for Investment and Trade Development of Slovakia, signed a memorandum of cooperation to exchange information and organise events. Also, a memorandum of cooperation and joint development was signed by Slovak Engul electro energy equipment manufacturing company and Kazakh energy company Market Solutions.

The roundtable gathered Vassilenko, Kazakh Vice-Minister of Energy Sungat Yessimkhanov, Slovakian Ministry of Economy First State Secretary Vojtech Ferencz, Deputy Board Chair of Kazakh Invest Timur Tilinin, and more than 100 representatives of government and business sectors from Slovakia and Kazakhstan. The roundtable was organised by the Kazakh Ministry of Foreign Affairs and Kazakh Invest.

Trade turnover between Kazakhstan and Slovakia exceeded $26 million from January to September 2019. Since 2005, Slovakia’s foreign direct investment to Kazakhstan has exceeded $20 million, reported Kazakh Invest press service.