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Astana and New Delhi strengthen economic cooperation

by February 12, 2019 Market

The issues of trade, economic and investment cooperation were discussed at the meetings of Kazakh delegation headed by Minister of Energy Kanat Bozumbayev in India. The delegation was represented by Deputy Foreign Minister Yermek Kosherbayev and representatives of JSC “NC” Kazakhstan Invest “.

During the visit, the Kazakh delegation took part in the major international conference on renewable energy, PETROTECH-2019 for exploration and production technologies.

Minister Kozy Bozumbayev told about the energy potential of Kazakhstan, the modernization of the country’s energy sector and called on international investors to cooperate with Kazakhstan in this session at the session “Cooperation for Ensuring Safe Access to Energy”.

During the meeting with India’s Minister of Oil and Natural Gas Darmendra Pradhan, prospects of cooperation in the oil and gas industry, prospects of cooperation with Kazakhstani and Indian companies in oil and gas exploration and development were discussed.

It should be noted that the two countries’ ministers are chairpersons of the Kazakh-Indian intergovernmental commission from their countries and agreed to hold the next meeting in 2019 within the framework of the 13th session of the Intergovernmental Commission in Astana.

The Kazakhstani delegation was represented by representatives of the Indian business community, including the President of the Indian Chamber of Commerce and Industry, the Indian Industrial Confederation and ONGC, CG Corporation, Jaypee Group, KUSUM Group, Simon Group, Sterling & Wilson Pvt. Ltd, JM Baxi Group, Larson & Toubro ltd. The issues of participation of Indian companies in promising investment projects in Kazakhstan were discussed during the meeting.

Deputy Minister Kusherbayev held a number of private meetings and discussed a wide range of issues of bilateral cooperation with Indian Deputy Foreign Minister Gites Sarma.

Special Rapporteur of the Kazakhstani Diplomat, Commercial Department for Logistics, India At the meeting with Sivasailam, issues of trade, economic and investment cooperation, integration of transport flows and economic advantages of using transit capacities of Kazakhstan and India were discussed. An agreement was reached to accelerate the establishment of a Transport and Logistics Ad Hoc Working Group and to hold its first meeting in India in April 2019 to enhance interaction.

At the meeting with IndiGo, the issue of opening new daily flights to Mumbai-Almaty was discussed.

In addition, E. Kusherbayev is the Deputy National Security Adviser of India Met Saran. The parties agreed to hold the third meeting of the Security Council of Kazakhstan and India in March this year.

Besides, Memorandum of Cooperation was signed between JSC “NC” Invest “NC” and NTPC Limited, India’s largest energy conglomerate. The signed document stipulates participation of the parties in the projects of solar power plants construction, as well as participation of the Indian company in existing coal projects in Kazakhstan.