Kazakhstan and Serbia are planning to increase trade value

Kazakhstan and Serbia are planning to increase trade value. Last year, the volume of mutual trade reached US$42 million. The value of the mutual export and import totalled US$17 million in the first seven months of 2018. The countries discussed the expansion of trade cooperation at the Kazakh-Serbian Business Forum held in Astana.

BAKYTZHAN SAGINTAYEV, PRIME MINISTER OF KAZAKHSTAN:

 - Last year, trade turnover between Kazakhstan and Serbia grew by 59 per cent compared to the previous year. However, it is not a lot in terms of monetary value. Therefore, during bilateral negotiations with the President of Serbia, we discussed the ways to boost our business cooperation in various sectors and reach higher results in trade turnover.

Serbia is planning to access the Eurasian Economic Union market through Kazakhstan. Meanwhile, Belgrade is ready to present Kazakh products in the Western European markets. Also, a number of Serbian companies are planning to build a multi-purpose residential facility in Astana, with a total area of 62 hectares. The investment project is estimated at US$1.2 billion.

DRAGOMIR KARIC, MEMBER, NATIONAL ASSEMBLY OF SERBIA:

 - We are planning to complete the construction in five years. The area will include a residential facility, kindergartens, shopping centre, school, park, theatre and a small stadium. The residential facility will be designed for 20,000 people. Prime Minister Bakytzhan Sagintayev and our president Aleksandar Vucic placed a time capsule in the facility’s foundation. 

At the forum, the parties signed four agreements in fields such as air transportation, youth policy, exchanges of experience in construction and fight against crime.