Kazakhstan and Israel are planning to jointly enter China’s food market

Kazakhstan and Israel are planning to jointly enter China’s food market

Kazakhstan and Israel are planning to jointly enter China’s food market. At the Kazakh-Israeli business forum in Astana, the memorandum was signed on construction of a joint venture for the processing of poultry meat, products which will be exported to China. The cost of plant construction, according to the Israeli side, will total $5 million, and exports will total  $10 million.

 

MICHAEL ROE, CHAIRMAN, BILATERAL CHAMBER OF COMMERCE AND INDUSTRY “ISRAEL-KAZAKHSTAN”:

The plant will be constructed in Almaty region. There are Israeli technologies. The funds are from Kazakhstan and Israel. Raw materials are of Kazakhstan’s. The Chinese orders already cover 5-years demand.

 

In addition, following the meeting, the agreements were reached on the export of Kazakh wheat and lamb meat in Israel. In turn, Israel will share with Kazakhstan its latest technologies in agriculture. According to Kaznex Invest, seven projects totaling $86.5 million have been implemented in Kazakhstan jointly with the Israeli partners. The projects cover manufacturing of printed circuit boards for electronic devices, a broiler poultry farm in North Kazakhstan region, and other areas. In total, today 270 joint ventures are registered in Kazakhstan.

 

BORISBIY ZHANGURAZOV, CHAIRMAN, KAZNEX INVEST:

Foreign direct investments from 2005 totaled more than $230 million. Investments were attracted in sectors such as medicine, finance, insurance, agriculture and many others. The trade turnover is also quite significant and totals over $200 million annually.

 

More than 400 entrepreneurs attended the Kazakh-Israeli business forum. Businessmen stressed that the projects in the areas of new technologies, chemistry and agriculture are very promising for further cooperation. At the forum, Kazakh and Israeli businessmen signed 11 agreements. For instance, in Almaty, Israeli investors are planning to build a university of modern technologies in the fields of medicine and agriculture. At the conference, the foreign entrepreneurs were presented the program of Kazakhstan’s industrial-innovative development. Also, they were able to learn more about the benefits for investors in Kazakhstan. According to experts, air traffic will help enhance bilateral cooperation as well. Soon, five flights will be launched in a week. In addition, a visa-free regime will start to operate for the Israeli citizens from January 1, 2017.