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Saturday, October 19th, 2019

KAZAKHSTAN INVESTED $25.5MLN IN MONGOLIA – NATIONAL ECONOMY MINISTER

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by October 11, 2019 General

Between 2007 and 2019, the amount of investment from Kazakhstan to Mongolia has stood at $25.5 million, and from Mongolia to Kazakhstan $8.8 million, National Economy Minister of Kazakhstan Ruslan Dalenov has said today at the Kazakh Mongolian Business Forum in Nur Sultan, Strategy2050.kz correspondent reports.

According to Ruslan Dalenov, the country has all the opportunities to further increase the mutual trade turnover with Mongolia, with local enterprises willing to cooperate.

Between 2007 and 2019, the amount of investment from Kazakhstan to Mongolia has stood at $25.5 million and from Mongolia to Kazakhstan $8.8 million. In 2018, the trade turnover between both countries equalled $76 million, including $73.2 million exports from Kazakhstan to Mongolia and imports worth $2.8 million, the Minister said.

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He has also dwelled on the Astana International Financial Centre, which cooperates with the Shanghai Stock Exchange, NASDAQ.

The Astana International Financial Centre was set up within the capital, offering the opportunities for foreign businesses. The Centre works with the Shanghai Stock Exchange, NASDAQ. It also has its own Court to deal with dispute relating to investment. I believe the opportunities the Center provides are attractive, he said.

As Nuraly Bukeikhanov, Deputy Chairman of Kazakhstan’s Foreign Trade Chamber, said, both countries have great prospects in developing trade and economic relations.

The main exporting items from Kazakhstan to Mongolia are tobacco products, foods, products of machinery and chemical industries, while the products of the light industry, agriculture are imported from Mongolia. There are great prospects in building even closer ties, he said.

Kazakhstan’s Foreign Trade Chamber and Mongolia’s National Commerce and Industry Chamber have been several reciprocal visits over the last 2 years, resulting in the signing of more than 12 agreements for over $9 million.

The Kazakh Mongolian Business Forum has gathered around 200 people, among them, both countries’ businesspersons, and representatives of authorized national companies under the ministries. It also featured B2B meetings and talks with potential partners.

Source: Kazakhtan 2050

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