Kazakhstan and Egypt will open a pharmaceutical park of medicines in Almaty

Kazakhstan and Egypt will open a pharmaceutical park of medicines in Almaty. According to the Kazakh ambassador to Egypt Arman Isagaliev, the cost of the investment project will be US$25 million. The diplomat says that the new park will allow the countries to enter new markets in the region. Supply contracts worth $10 million have already been concluded. The ambassador added that Egyptian officials are interested in creating a Kazakhstan grain hub in Egypt. This will facilitate the participation of the Kazakh companies in public procurement tenders.

ARMAN ISAGALIEV, KAZAKH AMBASSADOR TO EGYPT:

 - Egypt, with a population of over 100 million, is currently the largest importer of grain in the world. It imports 10-12 million tons of grain per year. For us, this is a promising market. Egypt sees Kazakhstan as a strategic partner in this area. Therefore, it offers to build a grain terminal in Egypt.

Egypt is one of the key trade partners of Kazakhstan in the African continent. In addition to wheat, Kazakhstan exports oil, oil products and metal products to this state. Some of the imports include chemical products, pharmaceuticals, clothing and fruit. According to ambassador Isagaliev, the bilateral contacts have been significantly strengthened this year.

ARMAN ISAGALIEV, KAZAKH AMBASSADOR TO EGYPT:

 - The volume of trade between Kazakhstan and Egypt in 2017 amounted to US$62.4 million. This is the highest trade volume in the last five years. In the first half of 2018, trade between the countries grew by 63 per cent and amounted to US$60.6 million. That was the average annual volume. 00: 06: 33: 12

Another important area of ​​cooperation between the two countries is tourism. Over the past two years, the number of Kazakh tourists visiting Egypt has increased by 25 times or 120,000 people. Kazakhstan ranks second after Ukraine according to the number of holidaymakers in Egyptian resorts. Kazakhstan has also launched a promotion campaign to attract Egyptian tourists. An agreement was reached on opening charter flights from Cairo to Astana, Almaty and other cities of Kazakhstan starting from 2019.