Belgium invested over us$7 billion in Kazakhstan over the past decade
Belgium has invested over US$7 billion in Kazakhstan over the past 10 years. The country has pledged to increase its investment value in the upcoming years.
Wallonia Export Investment Agency general manager, Chantal de Bleu said that the investments would be made in digital technology, healthcare and renewable energy sectors in Kazakhstan.
She also said that Belgium and Kazakhstan can also strengthen their trade partnership by increasing the volume of import and export products.
Last year, the volume of trade turnover between the two countries totaled about US$460 million, which is 60% higher than in 2017.
Belgium imports agricultural products from Kazakhstan such as flax and wheat.
Currently, there are more than 70 Belgian companies operating in Kazakhstan in various industries such as renewable energy, distribution and logistics services as well as medical equipment software.
Honorary Consul of Belgium in Kazakhstan, Denis van den Weghe said that the Belgian companies operating in Kazakhstan provides job opportunities to the local, pay taxes to the Government and continuously develop their businesses in the country.
“The Belgium and Kazakhstan relations are developing well. We are strengthening our partnerships,” he said.
Meanwhile, de Bleu said that Kazakhstan provides Belgium with the huge transport and logistics opportunity and access to the large market of the Eurasian Economic Union (EAEU).
“The opening of the Eurasian market will help facilitate the work of the companies with a single certification. The EAEU is also a bigger market although Russia and Kazakhstan themselves are also huge markets,” she said.
Weghe added that Belgium currently has access to the 185 million population market as the country partners with Kazakhstan.