Kazakhstan, Switzerland to Strengthen Trade Relations, Investment Cooperation

NUR-SULTAN – Kazakhstan and Switzerland are committed to strengthening trade relations and investment cooperation, said President Kassym-Jomart Tokayev during his meeting with Swiss business people. 

Tokayev meet with representatives of the Swiss business community in Akorda. Photo credit: Akorda press service

“Relations between our countries are based on friendship and mutual trust. I see today’s meeting as a constructive continuation of recent talks with Swiss President Guy Bernard Parmelin,” said Tokayev, addressing the meeting that gathered the President of Stadler Rail and Co-Chair of the Kazakh-Swiss Business Council Peter Spuhler, Glencore International CEO Ivan Glasenberg, and Head of Credit Suisse Switzerland Investment Division Jens Haas, among others. 

Switzerland has invested approximately $30 billion in the Kazakh economy over the 30 years of its independence. More than 400 companies backed by the Swiss capital work in Kazakhstan.

In 2020, the two countries traded for $1.7 billion. Tokayev noted the role of Kazakhstan as the largest economy of Central Asia. 

“I believe that there are certain achievements in our relations and cooperation. At the same time, there is a huge potential for growth. Kazakhstan will take all steps to make the investment climate in our country more comfortable for direct investment,” said Tokayev emphasizing the need for greater diversification of the Kazakh economy. 

For Kazakhstan, projects in the decarbonization of the economy, green technology, environmental protection, and finance will be a priority. 

The same day, Tokayev met separately with Peter Spuhler, Ivan Glasenber and Christoph Franz, CEO of F. Hoffmann-La Roche.

Tokayev and Spuhler discussed the prospects for the implementation of investment projects in the transportation sector, while with Ivan Glasenberg, he discussed the company’s plans for the development of Kazzinc, where Glencore is a general investor, including the construction of a polymetallic ore processing plant at the Zhairem mining and processing plant.

Tokayev stressed the importance of introducing advanced technologies to improve the environmental situation in the East Kazakhstan region.

The opportunities for implementing joint projects, including building laboratory infrastructure in Kazakhstan to diagnose various diseases, including COVID-19, were discussed during the meeting with Christoph Franz.

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