Austria, Kazakhstan trade turnover jump
By Vusala Abbasova
The trade turnover between Austria and Kazakhstan has increased more than 12 times over the past years.
The figure was 3.1 billion euro in 2014, Chairman of the Union of Machine Builders of Kazakhstan Meyram Pshembaev said during the forum recently held in Vienna.
Kazakh and Australian businessmen discussed the business partnership in the machinery industry within the Kazakh-Austrian business forum of mechanical engineering of Austria.
Pshembaev also stressed that the priority directions of developing the Kazakh-Austrian economic cooperation are the engineering industry, investment cooperation and business partnership.
Currently, there are more than 140 joint Kazakh-Austrian enterprises in Kazakhstan.
During January-June of 2014, bilateral trade amounted to $1.962 billion, including export in amount of $1.817 billion and import at $144.894 million.
Kazakhstan-Austrian Intergovernmental Commission on Economic, Agricultural, Environmental, Industrial, and Technological Cooperation (IGC) plays an important role in the development of business cooperation.
The large event with attendance of Kazakh companies provided an opportunity for companies to meet with potential suppliers, customers and business partners, as well as learn more about the latest trends in the field of mechanical engineering.
The Kazakh government has created all necessary conditions required to attract foreign investors, applying stable tax legislation as a part of investment contracts.
Furthermore, Kazakhstan has 2 industrial and 10 special economic zones with full support and tax preferences, that, in turn, attract foreign investment from private companies.
Kazakhstan, which announced that its main priority in economy is the creation of a favorable investment climate, has recently extended a unilateral visa-free regime for a year for citizens of Switzerland, Spain, Belgium, Hungary, Monaco, Singapore, Australia, Norway, Sweden and Finland--10 countries actively investing in Kazakh economy.
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