Today in Astana, within the framework of the Astana Economic Forum, Prime Minister of the Republic of Kazakhstan Bakytzhan Sagintayev met with Deputy Prime Minister and Minister of Foreign Affairs of Georgia Mikheil Janelidze.

The discussion covered issues of deepening mutually beneficial trade and economic cooperation between the two countries in the fields of energy, transport and logistics, tourism, culture, health and education, expansion of mutual trade in new directions, export of processed and raw materials in the chemical industry, machine building, construction , agriculture, including Kazakhstan grain and others. The interlocutors also considered issues of interaction between state bodies, regions and business communities of the two states, active participation of Georgian companies in the work of the Astana International Financial Center.

Much attention was also paid to the development of investment cooperation. Over the past 12 years, the volume of Kazakhstani investments in the Georgian economy amounted to more than $ 406 million; gross inflow of direct investments from Georgia to Kazakhstan totaled $ 45.9 million.

Kazakhstan’s companies are ready to supply electric locomotives for the "Georgian Railways" and Kazakh buses for updating the bus fleet in Tbilisi. Kazakh Export offers the Georgian side its long-term trade financing along the lines of the export-insurance program and joint implementation of mutually beneficial projects.

For reference: According to the results of 2017, the commodity turnover between Kazakhstan and Georgia increased 56.4% compared to 2016 and amounted to $ 64.3 million. Kazakhstan's exports to Georgia in 2017 doubled and amounted to $ 38.4 million (2016 - $ 19.4 million). Imports from Georgia for the past year totaled $ 25.9 million, which is 19% higher than in 2016 ($ 21.7 million). Turnover for January-February 2018 was $ 8.7 million, which is 80.2% higher than for the same period last year ($ 4.8 million).

Kazakhstan’s conditions for foreign capital are constantly improving. Through Kazakhstan, Georgian companies are gaining access to the markets of Central Asia and China. Today in Kazakhstan there are about 120 joint ventures with the participation of Georgian capital in such sectors as energy, transport, innovation, medicine, etc. As of April 1, 2018, there are 236 registered legal entities, branches and representative offices with Georgian participation in Kazakhstan, of which 123 are active.

www.primeminister.kz

Published: 16 May 2018

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