National Bank of Kazakhstan Lowers Base Rate to 14.50%
ASTANA – The National Bank of Kazakhstan announced plans to reduce the base rate by 25 basis points to 14.50% per annum, with a corridor of +/- 1 percentage point, reported the bank’s press service on May 31. Annual inflation slowed to 8.7% in April, aligning with the forecast trajectory. However, inflation expectations rose after…
SCO Foreign Ministers Approve Agenda for Meeting in July
ASTANA — The foreign ministers of the Shanghai Cooperation Organization (SCO) member states have approved the agenda for the SCO Heads of State meeting, scheduled for July 3-4 in Astana, Kazinform reported on May 21. According to SCO Secretary-General Zhang Ming, one of the objectives of the SCO Foreign Ministers Council meeting was comprehensive preparation…
Kazakhstan’s Manufacturing Sector Grows 5.2% to $16 Billion in Four Months
ASTANA — In four months of this year, the volume of manufacturing goods production in Kazakhstan grew 5.2% to 7.1 trillion tenge (US$16 billion), with exports reaching $5.6 billion, Minister of Industry and Construction Kanat Sharlapayev said at a May 28 government meeting chaired by Prime Minister Olzhas Bektenov, reported the Prime Minister’s press service.…
Kazakhstan, China Implement Large-Scale Project to Expand Mutual Trade
ASTANA – Kazakh Minister of Trade and Integration Arman Shakkaliyev toured a pavilion built for Kazakhstan and other Central Asian states at the Jiangsu trade center during his visit to Nanjing city on May 28, reported the ministry’s press service. QazTrade Trade Policy Development Center and the largest state trade group in the province, Jiangsu…
Almaty Hosts Central Asia Climate Change Conference 2024
ASTANA — The Central Asia Climate Change Conference (CACCC-2024) held in Almaty from May 27 to 29 addressed issues of sustainable water and land management, energy, food security and environmental sustainability amid climate change, reported the World Bank’s press service. Dubbed Bridging Climate Goals with Action: Making Ambitions a Reality this year, the conference brought…
Kazakhstan Serves As Gateway to Central Asian Region, Says Singapore’s President
ASTANA – Kazakhstan, as Central Asia’s most prosperous country, serves as a gateway to the region, President of Singapore Tharman Shanmugaratnam wrote on his LinkedIn page on May 24, following Kazakh President Kassym-Jomart Tokayev’s state visit. According to Shanmugaratnam, Kazakhstan and Singapore share a common interest in fostering cohesive, multiethnic, and multireligious societies. Both countries…
AIFC Court and International Arbitration Centre Open New Premises in China
ASTANA – The Astana International Financial Centre’s (AIFC) Court and International Arbitration Centre (IAC) launched their premises at the Executive Center in the prestigious China World Tower in Beijing on May 27, reported the AIFC Court and IAC press service. With modern meeting and hearing rooms, administrative support, and digital technology, the new office aims…
First Trial Transit Road Transportation from China to Europe Organized Via Kazakhstan
ASTANA – During the meeting of the Kazakh-Chinese joint commission on road transportation, the first three Chinese trucks weighing 80 tons departed from Urumqi and were loaded onto a ferry at the Kuryk port in Aktau on May 23 to continue along the China-Kazakhstan-Azerbaijan-Georgia route, reported the Kazakh Transport Ministry’s press service. Chairman of the…
Kazakhstan Ratifies OTS Agreement to Establish Simplified Customs Corridor
ASTANA – The Mazhilis, the lower house of the Kazakh Parliament, has ratified an agreement among the governments of the Organization of Turkic States (OTS) to establish a simplified customs corridor (SCC), the Mazhilis’ press service reported on May 22. This agreement, signed in Samarkand on Nov. 11, 2022, is set for an indefinite period.…
President Tokayev Meets with Business Executives in Singapore
ASTANA – President Kassym-Jomart Tokayev held bilateral meetings with business leaders during his state visit to Singapore on May 23, reported the Akorda press service. The first meeting was held with Dilhan Pillay, Executive Director and CEO of Temasek Holdings, one of Singapore’s largest investment companies founded in 1974 with 13 representative offices across nine…
Kazakh President Outlines Promising Areas of Cooperation with Singapore at Forum
ASTANA – President Kassym-Jomart Tokayev highlighted several promising areas of cooperation at the Kazakhstan-Singapore business forum on May 23, reported the Akorda press service. Starting with the large-scale reforms currently implemented in Kazakhstan, the President mentioned a recent decree aimed at significantly liberalizing the national economy. He spoke about the launch of a new investment…
Astana Hosts Intergovernmental Commission for Ethnic Germans in Kazakhstan
ASTANA — The Kazakh-German Intergovernmental Commission for the Affairs of Ethnic Germans in Kazakhstan convened on May 21 for its 20th-anniversary meeting, aiming to enhance cultural and humanitarian cooperation and discuss the German ethnic group’s affairs, reported the Kazakh Foreign Ministry’s press service. According to statistics, Kazakhstan is home to 226,000 ethnic Germans, with around…
Middle Corridor Cargo Transportation Rises 35% in Early 2024
ASTANA — Cargo transportation along the Trans-Caspian International Transport Route (TITR) saw a 35% increase from January to April, according to a meeting between Azerbaijan Railways Chairman Rovshan Rustamov and China State Railway Group Chairman Liu Zhenfang, Kazinform reported on May 22. A train carrying 61 containers departed from the port in the Chinese province…
Tokayev Meets Singapore’s PM, Signs New Memorandums of Cooperation
ASTANA – President Kassym-Jomart Tokayev met with Singaporean Prime Minister Lawrence Wong, congratulating him on his recent appointment and wishing him success in his governmental duties during his state visit to Singapore on May 23, reported the Akorda press service. The President emphasized that Singapore is Kazakhstan’s strategic partner in Southeast Asia and praised the…
UN Secretary-General to Attend SCO Council of Heads of State in July
ASTANA – During a May 20 meeting with Kazakh First Deputy Foreign Minister Akan Rakhmetullin, Secretary-General of the United Nations (UN) António Guterres confirmed his participation in the meeting of the Heads of State Council of the Shanghai Cooperation Organization (SCO), scheduled for July 3-4 in Astana, reported the ministry’s press service. The meeting, held…
Kazakh President Visits Singapore For First Time in Over 20 Years
ASTANA—President Kassym-Jomart Tokayev arrived in Singapore for a state visit on May 23, the Akorda press service reported. This was the first visit by a Kazakh President to Singapore in over twenty years. During his meeting with President Tharman Shanmugaratnam, Tokayev highlighted Singapore as a time-tested and reliable partner of Astana. Over 140 Singaporean companies…
Kazakh Movie Wins Award at LA Asian Pacific Film Festival 2024
ASTANA – Kazakh film “Madina” received a Special Recognition award at the 40th edition of the Visual Communications (VC) Film Fest/Los Angeles Asian Pacific Film Festival, as reported by the festival’s press service on May 16. Directed by Aizhan Kassymbek and featuring an all-woman crew, the movie delves into the oppressed lived experiences of its…
Kazakhstan Increases Road Transportation to Latvia, Lithuania, Estonia
ASTANA — Kazakh Minister of Transport Marat Karabayev announced a significant increase in the number of additional permit forms for road transportation to European countries, particularly Latvia, Lithuania, and Estonia, the ministry’s press service reported on May 20. In the current realities, Kazakh carriers’ demand for permit forms from European countries has sharply risen. Over…
Kazakhstan Expands Non-Commodity Exports
ASTANA – The number of exported non-commodity goods from Kazakhstan increased by 278 positions in 2023, Minister of Trade and Integration Arman Shakkaliyev said at a May 21 government meeting chaired by Prime Minister Olzhas Bektenov, reported the Prime Minister’s press service. Since 2019, the number of permanent active exporters in Kazakhstan has grown by…
Kazakhstan Reaffirms Commitment to Strengthening SCO’s Potential
ASTANA – Kazakhstan is making every effort to enhance the potential of the Shanghai Cooperation Organization (SCO) during its chairmanship, President Kassym-Jomart Tokayev said at a May 21 meeting with SCO Foreign Ministers, reported Akorda. Tokayev expressed his deep condolences to the people and leadership of Iran following the tragic death of President Ebrahim Raisi…
Kazakhstan’s Oil Transportation Volume Grows 14.2% in First Quarter of 2024
ASTANA – Kazakhstan’s mainline and sea oil transportation volume increased by 14.2% to 21,541 tons in the first quarter of 2024, compared to the same period last year, according to a May 17 report by the national oil and gas company, KazMunayGas (KMG). The volume of oil transported through Kazakhstan’s main pipelines grew 7.9% to…
Kazakh Prime Minister Addresses Accelerated Restoration As Flood Peak Passes
ASTANA – Kazakh Prime Minister Olzhas Bektenov held a meeting on the implementation of President Kassym-Jomart Tokayev’s instructions on eliminating the consequences of floods and expediting restoration efforts, following the peak of floods across the country on May 20. Flood control efforts are ongoing in the Atyrau Region, particularly along the Zhaiyk River, where water…
Kazakhstan, Malaysia Sign Agreements Worth More Than $350 Million
ASTANA – Kazakh and Malaysian businesses signed agreements and memorandums totaling over $350 million at a May 17 investment roundtable chaired by Kazakh Prime Minister Olzhas Bektenov and Malaysian Prime Minister Anwar Ibrahim, as reported by the Prime Minister’s press service. Participants agreed to collaborate on attracting investments in Islamic finance and trade development, as…
Kazakhstan Increases Agricultural Exports to China
ASTANA — Exports of Kazakh agricultural goods to China increased by 84% over the year. This was announced during a May 16 meeting between Kazakh Prime Minister Olzhas Bektenov and Chinese Vice Premier Liu Guozhong, reported the Prime Minister’s press service. During the same period, agricultural product turnover grew 1.7 times, with an additional 6%…
Kazakhstan to Participate in Central Asia-Italy Meeting in Rome
ASTANA – Antonio Tajani, the Italian Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, will meet with foreign ministers of Kazakhstan, the Kyrgyz Republic, Uzbekistan, Tajikistan, and Turkmenistan in Rome on May 29, reported Agenzia Nova. The meeting confirms Italy’s growing interest in Central Asia, a region of increasing political and economic…
