Kazakhstan and China are planning to create a direct investments fund. This was announced during the meeting of the Shanghai Cooperation Organization’s (SCO) Business Council. The fund will let companies enter the market by equity participation. Expansion of trade and economic participation in the SCO was one of the main meeting’s agenda. Participants noted the need to enhance the work of the SCO Interbank Association. Thus, the Council is aiming to provide the business an opportunity to receive loans in financial institutions of SCO member states.

 

RAIMBEK BATALOV, CHAIRMAN, SCO BUSINESS COUNCIL:

 - Chinese banks’ interest rates are quite low. Indian banks’ interest rates are acceptable. Therefore, I think that business has a choice, and this choice is becoming more tangible in the SCO. Thanks to such organizations, our business can easily undergo all necessary procedures. We are ready to assist new business projects. There are national branches in every SCO member state.

 

According to deputy chairman of ‘Atameken’ National Chamber of Entrepreneurs Nurzhan Altayev, Kazakhstan is interested in entering the SCO member states’ market. In particular, Kazakhstan is planning to export food products to the neighboring Russia and China. Kazakhstan and China will sign an agreement on mutton export soon. Kazakhstan is aimed to set up an export volume of up to 80,000 tons of meat by 2018.

 

NURZHAN ALTAYEV, DEPUTY CHAIRMAN, ‘ATAMEKEN’ NATIONAL CHAMBER OF ENTREPRENEURS:

 - Kazakhstan exports wheat to China. Since last year, Kazakhstan has been exporting butter and vegetable oil. In May, we signed a contract on exporting honey and mixed fodders. It is expected that a protocol on export of mutton will be signed within a month. About 3 billion people live in the SCO countries. It is a huge market we should work with. 

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