Trade turnover between Kazakhstan and Latvia in January-September totaled $81 million. Representatives of business community of Astana and Riga discussed the ways to increase the trade turnover between the two countries at a business cooperation forum. According to the managing director of KAZNEX INVEST Askar Arynov, Latvia for Kazakhstan is a starting line to enter the European markets. Today, the Latvian businessmen are mostly interested in the products of Kazakhstani pharmaceutical companies and food producers.

 

Askar ARYNOV, MANAGING DIRECTOR, KAZNEX INVEST:

We can bring our trade turnover to $500 million, because there is a huge potential in the logistics between the two countries. There is a great potential in terms of tourism.

 

Currently, there are about 60 joint ventures with participation of the Latvian capital in Kazakhstan. They are mostly employed in the areas of logistics, trade and financial consulting. Kazakhstan exports mostly cotton fiber and mineral fertilizers to Latvia. Kazakhstan imports frozen fish and canned fish mainly imported from Latvia.

 

Maksim TOLSTOY, CHAIRMAN, RIGA CITY DEVELOPMENT COMMITTEE:

We made an offer for Kazakhstani manufacturers to enter our market. For us, meals such as, kazy, kurt, mare’s milk, shubat are very exotic, but delicious. There are some things that we do not have at all. We’ve never produced them; we know they would be in demand.

 

According to experts, Kazakhstan's membership in the EAEU also helps to increase of trade between the countries. Another factor in increasing bilateral cooperation is the opening of direct flights between the two countries ahead of the international exhibition EXPO 2017 in Astana.

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