Kazakhstan and Spain to Surpass Trade Value of €2 Billion

Kazakhstan and Spain to Surpass Trade Value of €2 Billion

Kazakhstan and Spain is set to increase their trade value this year as the two countries recorded over two billion Euros in trade to date.

The countries mainly traded Kazakhstan-made combustibles and lubricants, copper-based products, chemical products, steel products and electrical equipment and Spanish made vehicles, air navigation equipment, clothing and shoes.

This year, Kazakhstan will also start exporting wheat to Spain as well as to other new markets in Bangladesh, Finland and Israel.

Kazakh Deputy Foreign Minister, Yermek Kosherbayev said the country is now interested to produce its own clothing with partnership with Spanish clothes manufacturers.

“We all know that Spain has a lot of world-class companies that are involved in clothing production and we would like to have the same clothes produced in our country. These clothes will be produced from our raw materials using the technology in partnership with Spanish companies,” he said.

Kosherbayev also said Kazakhstan and Spain will start focusing their partnership in priority areas such as agriculture, renewable energy, engineering, chemical industry as well as the light industry.

He said the Ministry has identified the priority countries to attract investments into Kazakhstan and Spain is included in the list.

In February this year, Kazakh Foreign Minister Beibut Atamkulov said Ministry plans to attract investments from 40 countries in various industries in the country such as food and beverages, oil and gas processing, chemicals, petrochemicals and machine-building.

Meanwhile, Spanish businessmen have highlighted the main advantages in doing business in Kazakhstan, which includes the country’s economic stability and special preferences for foreign investors.

Spain’s Secretary of State for Trade, Xiana Mendez said there are much potential in terms of investment and market development between Spain and Kazakhstan.

She said that Kazakhstan’s efforts to educate foreign investors have bear fruits as more countries are interested to start investing and increasing their investments in the country.

“We are able to learn about the investment and trading opportunities of Kazakhstan as well as discussed the prospects for cooperation between Spain and Kazakhstan,” Mendez added.

Kazakh Ambassador to Spain, Konstantin Zhigalov said currently there are 61 large renowned Spanish companies operating in Kazakhstan.

Photo: e-history.kz