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    Kazakhstan

    Kazakhstan and Japan boost trade: $7.8bn investments, $2bn turnover in 2023

    Kazakhstan and Japan boost trade: $7.8bn investments, $2bn turnover in 2023

    The Minister of Trade and Integration of the Republic of Kazakhstan, Arman Shakkaliev, recently hosted a delegation from Japan, headed by Vice Minister of Economy, Trade, and Industry, Kozuki Ryosuke, Ministry of Trade and Integration of Kazakhstan reported. The high-level meeting focused on strengthening bilateral trade ties and exploring opportunities for increased economic cooperation between the two nations.

    Photo: Minister of Trade and Integration of the Republic of Kazakhstan, Arman Shakkaliev,
    Source: official information source of the Prime Minister of Kazakhstan

    Japan has emerged as a significant investor in Kazakhstan, with a total investment exceeding $7.8bn over the past 17 years. The trade relationship between the two countries has also witnessed substantial growth, with mutual trade turnover for the first 11 months of 2023 reaching $2bn—a 16.5% increase compared to the same period in the previous year.

    Minister Shakkaliev emphasized the potential for expanding the export of Kazakh products and expressed readiness to increase the supply of 45 processed goods, amounting to $204mn. He highlighted Kazakhstan's abundant resources, positioning the nation as a key agricultural and food hub. Among the potential exports, the Minister singled out agricultural products, with a particular emphasis on horse meat.

    "To grow and strengthen our trade and economic relations, I propose establishing close cooperation between Kazakhstan's KazakhExport and the Japanese Export Credit Agency in the areas of insurance, reinsurance, and loan guarantee," stated Minister Shakkaliev during the meeting.
    Photo: Bilateral trade sees a 16.5% surge, reaching $2bn in the first 11 months of 2023
    Source: official information source of the Prime Minister of Kazakhstan

    Both parties also discussed preparations for EXPO 2025, scheduled to take place in Osaka from April 13 to October 13, 2025, under the theme "Creating a society of the future for our lives." Minister Shakkaliev sees Kazakhstan's participation in the international exhibition as a key driver for establishing long-term and mutually beneficial ties between companies and business circles in both countries.

    Vice Minister Kozuki Ryosuke expressed confidence in the further intensification of business relations and pledged assistance to Kazakhstan in ensuring a high-quality preparation for the upcoming exhibition.

    The reference to the trade turnover between Kazakhstan and Japan in January-November 2023, exceeding $2bn, with exports at $554.3mn and imports at $1.5bn, underscores the robust and growing economic ties between the two nations. 

     

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    13.01.2024, 21:01   Comments (0)   2242
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    #Kazakhstan#Japan#Trade#Economy#International Relations#Cooperation

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