Europe > Western Europe > Austria > Austria, Kazakhstan trade turnover jump

Austria: Austria, Kazakhstan trade turnover jump

2015/11/22

The trade turnover between Austria and Kazakhstan has increased additional than 12 times over the completed 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 as well stressed that the priority directions of developing the Kazakh-Austrian economic cooperation are the engineering industry, investment cooperation and business partnership.

Currently, there are additional than 140 joint Kazakh-Austrian enterprises in Kazakhstan.

During January-June of 2014, bilateral trade amounted to $1.962 billion, inclunding export in all 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 significant 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, inclunding learn additional about the new 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 appropriate economic zones with full support and tax preferences, that, in turn, attract foreign investment from private companies.

Kazakhstan, which announced that its major 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 nations actively investing in Kazakh economy.

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