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Wednesday, December 11th, 2019

Kazakhstan and Finland discussed economic and investment cooperation

by February 28, 2019 Market

ASTANA, Within the framework of the 11th session of the Kazakh-Finnish intergovernmental commission on trade and economic cooperation the Kazakh-Finnish business and investment roundtable was held in the Ministry of Foreign Affairs.

This event is a practical continuation of the official visit of the President of Kazakhstan Nursultan Nazarbayev to the Republic of Finland in October 2018.

The round table was attended by Minister of Foreign Trade and Development of Finland Anna-Mari Virinainen, Deputy Minister of Foreign Affairs of Kazakhstan Yermek Kosherbayev and over 40 representatives of business circles of both countries.

Deputy Foreign Minister Yerbolat Dossayev Kusherbayev explained the mechanism of investment attraction, investment climate, tax incentives for foreign investors.

“The President pays particular attention to attraction of investments, and today all conditions for investors are created in Kazakhstan and the work on improvement of the investment climate is constantly carried out. In December 2018, the function of attracting investments was entrusted to our Ministry. At the moment, the work on the formation of a complex ecosystem in the format of “foreign enterprises – central zone” has started. Kusherbayev.

During the event, the leaders of such companies as Kazakh Invest, NC Kazatomprom, Kazakh Export Export Insurance Company, Kauko International, Finnish Water Forum, AINS, Nurminen Logistics presented their presentations.

Trade turnover between the two countries in 2018 amounted to about $ 247 million. Last year Kazakhstan received $ 115.7 million for Finland. Exported goods for $. The main export products are crude oil, coal, raw material extraction products, engines and power stations, lorries, earthworks and road construction equipment.

In 2018, Kazakhstan imports to Kazakhstan 131.6 million tons of oil. US dollars. The main products are: oil products, paper, medicines and hydrogen peroxide.

The event resulted in signing of a tripartite agreement to the memorandum between JSC “Kazakhstan Center for Modernization of Housing and Utilities”, LLP “Research Institute for Typical and Experimental Designs of Nuclear and Experimental Designs” and “AINS Group”.

Finland is one of the key partners of Kazakhstan in the Northern Europe and the European Union. The relations between the two countries are characterized by high dynamics of political dialogue and great potential for further expansion of economic and investment cooperation.