Littoral countries of Caspian Sea are set to develop mutually beneficial cooperation

Today, Iran, Russia, Azerbaijan and Turkmenistan have close economic relations with Kazakhstan. For example, the trade turnover between Mangystau region and Russia exceeded US$52 million within five months of this year. 300 enterprises with Russian investment were registered in various industries of the region.

NURADIL IMANGALIYEV, SPOKESPERSON, DEPARTMENT FOR INDUSTRIAL AND INNOVATIVE DEVELOPMENT:

- Over the past three years, we have seen 33 per cent increase in trade between the Caspian littoral countries. If the total trade turnover amounted to US$165.8 million in 2015, then this figure has increased to US$220.5 million in 2017. Russia makes up the largest share of this trade turnover. We have a very fruitful cooperation with Iran, too. We export products of machine industry and metallurgy. We import agricultural products from Iran. 

The Mangystau region also actively cooperates with Azerbaijani investors. 186 joint enterprises operate in the region. One of the enterprises is the production and logistics center. The goods warehouse is the largest in the region with a total area of nearly 9,000 square meters. Azerbaijani investors have invested over 4.5 billion Tenge in the project. The investors have also invested nine billion Tenge for a new facility established in the territory of the Special Economic Zone ‘Seaport Aktau.’ The plant for the production of transformers and cables will start operation by end of this year. 

ZHARASKAN KABIYEV, CHIEF INVESTOR RELATIONS MANAGER, SPECIAL ECONOMIC ZONE ‘SEAPORT AKTAU’:

- There are 27 enterprises operating in the territory of the Special Economic Zone ‘Seaport Aktau'. There are two enterprises from the littoral countries to the Caspian Sea. They are exempt from taxes, particularly, corporate income tax, land tax, and this attracts our participants from Azerbaijan. This will help our region attract even more investments.

Active cooperation is also being conducted with Turkmenistan businessmen. A delegation from Mangystau region visited Turkmenistan in the spring of this year. The delegation made proposals on cooperation in the export of goods of machine-building enterprises, light industry and construction materials.