Kazakhstan to Increase Exports to Swiss Market by $500 Million

ASTANA – Kazakhstan is ready to expand its exports to the Swiss market by 90 commodity items worth $546.4 million, said Minister of Trade and Integration Serik Zhumangarin at the meeting of the Kazakh-Swiss Commission on Trade and Economic Cooperation on June 27, reported the Prime Minister’s press service. 

Photo credit: primeminister.kz.

The Swiss delegation was led by Erwin Bollinger, Ambassador and Head of the Bilateral Economic Relations Division and Federal Council Delegate for Trade Agreements of the State Secretariat for Economic Affairs (SECO). 

Discussions focused on bilateral cooperation in trade and investment, agriculture, aviation, energy, technical regulation, standardization and metrology, education and science, intellectual property, and venture capital investment.

According to the minister, trade turnover between Switzerland and Kazakhstan reached $1.4 billion in 2022, which is relatively low for countries of their potential.

“We have examined our export-ready products and are prepared to offer premium segment products like caviar, fish, honey, wine, and vodka to the Swiss market,” he said.

According to Zhumangarin, Kazakhstan has made progress in exporting fish products through collaboration with the European Commission, while the potential export of honey is still being considered. 

Kazakhstan has also initiated negotiations to certify the supply of Kazakh caviar to the European Union market.

Zhumangarin emphasized the longstanding commitment of both countries to a transparent political dialogue and the continuous efforts to strengthen bilateral relations through trade and economic cooperation.

Swiss business is widely represented in Kazakhstan, with over 300 companies operating in the country, including well-known groups such as Philip Morris International, Glencore, Roche, and Bühler Group. 

Switzerland is Kazakhstan’s third largest foreign investor, following the Netherlands and the United States. Swiss-based companies have invested nearly $31 billion in Kazakhstan’s economy since 2005.  

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!