ASTANA – Kazakhstan sees significant potential to increase exports to Thailand, targeting over 100 product categories valued at more than $900 million, Minister of Trade and Integration Arman Shakkaliyev said at an Aug. 14 meeting with Thai Deputy Prime Minister and Minister of Commerce Phumtham Wechayachai.
Olzhas Bektenov with Phumtham Wechayachai. Photo credit: primeminister.kz.
According to the Kazakh Trade and Integration Ministry’s press service, these categories include metallurgical products, chemicals, agricultural goods, and mineral resources. Kazakhstan can also supply Thailand with honey, caviar, meat delicacies, high-quality alcohol, and other goods.
The parties signed an agreement on trade and economic cooperation, which aims to develop bilateral economic relations on a long-term basis. The agreement is expected to attract Thai investors to Kazakhstan’s special economic zones, where they will benefit from tax exemptions and customs duty relief. This will help create new industries and jobs, positively affecting the country’s economy.
Arman Shakkaliyev with Phumtham Wechayachai. Photo credit: gov.kz.
They discussed cooperation in the industrial sphere, including joint projects in processing sheep wool and producing fabrics, leather, and footwear. Kazakhstan offered various benefits and preferences for new investment projects.
Wechayachai suggested opening a Thai representative office in Kazakhstan to promote foreign trade and enhance bilateral relations. He also invited Kazakh entrepreneurs to participate in a trade exhibition in Thailand.
Trade turnover between Kazakhstan and Thailand grew 35.9% to $367.7 million, while exports of Kazakh products increased to $55.3 million. Over the past five years, mutual investments between the two countries have totaled $100 million. Kazakhstan ranked as Thailand’s second-largest trading partner in the Eurasian Economic Union in 2017, with a trade volume of $172 million.
Wechayachai then met with Prime Minister Olzhas Bektenov, who expressed Kazakhstan’s interest in exporting meat, vegetables, fruits, grains, flour products, vegetable oils, and other agricultural products to Thailand.
The parties noted positive dynamics in tourism, highlighted by Thailand’s visa-free regime for Kazakh citizens. The opening of a Consular Office in Phuket will further support Kazakh visitors. Additionally, discussions included using Kazakhstan’s transit potential through the Trans-Caspian International Transport Route to enhance trade connectivity.
