Japan-Kazakhstan Business Ties See a Boost
Japanese delegation will soon arrive in Kazakhstan to study the country's investment climate. The delegation is planning to visit the cities of Nur-Sultan, Almaty and Atyrau. The representatives of Japan’s largest corporations intend to discuss specific business projects with Kazakh entrepreneurs.
‘The embassy pays special attention to attracting investments into the industrial sector. For this purpose, at the end of this month we organize business missions of high-tech companies,’ Yerlan Baudarbek-Kozhatayev, Kazakh ambassador to Japan said.
The transit potential and favorable location on the world’s transport map make Kazakhstan an attractive business destination for foreign investors. On top of that, the country offers tax breaks and duty exemptions for companies willing to share their technologies with Kazakhstan.
‘Our company sells steel and steel products. Our partner involved in steel production is working in Kazakhstan. Now there is a topic of expanding activities. The Kazakh market is quite new for us. Therefore, during the upcoming trip, we want to learn about the country’s investment climate in detail,’ Nobuo Yagi, president of Metal One Steel Products Corporation told Kazakh TV.
Over the past years of cooperation, Kazakhstan and Japan have achieved positive results in a number of areas. The trade turnover between two countries reached US$2 billion in 2018. Japan’s direct investments in Kazakhstan have amounted to more than US$400 million. In addition, over the past five years, Kazakhstan’s exports to Japan have doubled. Kazakh exports exceed Japanese imports. Exports of Kazakh safflower oil and honey to Japan have been launched recently.