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The is a growing interest of Zurich business people towards the Kazakh economy

by December 6, 2016 Market

On Dec.5 in Zurich, in the framework of economic promotion week, the Kazakh Embassy in Switzerland together with the Swiss Asian Chamber of commerce conducted a round table to present the investment and business climate of Kazakhstan.

More than 30 Swiss companies from different fields such as health, insurance, transport, hi technologies, bank and food industry took an active part at the event. It is worth mentioning that Switzerland is in top five major trade partners of Kazakhstan. As of nine months of 2016 bilateral trade volume reached 2,9 billion USD.

Zhanar Aitzhanova, Ambassador of Kazakhstan, Jean-Paul Periat, Vice-President of the Swiss-CIS Chamber of Commerce and Tuk Seng Lou, Member of the Executive board of the Swiss Asian Chamber of commerce made their welcoming speeches. During the presentation on investment potential of Kazakhstan, Mrs. Ambassador shared about the Kazakh government’s measures to improve the investment climate, to simplify conditions for doing business in the country and pointed out perspectives for Swiss companies of Kazakhstan’s joining the World Trade Organisation and participating in the Eurasian Economic Union.

Tuk Seng Lou, Member of the Executive Board of the Swiss Asian Chamber of Commerce noted that high 35th place in Doing Business international ranking reflects effective Government policy in the area of simplifying business procedures and attracting foreign investments. Jean-Paul Periat, Vice-President of the Swiss-CIS Chamber of Commerce presented successful outcomes of the Swiss business delegation visit headed by Pierre Maudet, Minister of Economy and Security of the Canton of Geneva, to Kazakhstan last October. According to Periat, high profile government and business meetings were practical and established a strong foundation for further fruitful cooperation.

Taxation, logistics, obtaining permissions and opening business in Kazakhstan were discussed with representatives of Novartis, UBS, Rheinmettall, Switzerland tourism, AOT holding, Ruag aviation, Astra and other companies. Implementation of a single window, investment ombudsman institution, liberalisation of visa regime, tax and custom preferences, reduction of administrative barriers and simplification of licensing stimulated a genuine interest from participants.

Ambassador Aitzhanova urged Swiss companies to participate actively in the process of state assets privatization, in Expo 2017 international exhibition and the Astana International Financial Center activities. As a result, participants of the round table agreed to organize a business trip to Kazakhstan in 2017 and to review business opportunities for joint projects in Kazakhstan.