The Ministry of Trade and Integration of Kazakhstan has announced the country's intention to increase its exports to Switzerland by over $500mn. The bilateral trade between the two nations amounted to $1.4bn last year, media reports.
Switzerland has a significant presence in the Central Asian country, with companies counting Philip Morris International, Glencore International, Roche Holding, ABB, and Bühler Group all operating within the country.
Deputy Prime Minister and Minister of Trade and Integration Serik Zhumangarin acknowledged the potential for further strengthening bilateral trade and economic ties, stating that Kazakhstan has thoroughly examined its inventory of goods that could be export-ready and is willing to add $546.4mn to its existing list. The parties have mutually agreed to exchange lists of potential export goods and to foster continuous cooperation in establishing business partnerships between the two nations.
Switzerland holds a prominent position among the top three investors in Kazakhstan, having invested over $31bn since 2005. Trade between the two countries grew 6.4% in 2022, reaching $1.4bn.
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