Kazakhstan works out concept for approaching potential markets

Astana, Kazakhstan, March 13
By Daniyar Mukhtarov - Trend:

Kazakhstan has worked out a concept for approaching markets beneficial to the country, Chairman of the Board of the Economic Research Institute JSC under Kazakhstan's Ministry of Economy and Budget Planning, Maskat Mukhanov said in a briefing in Astana on March 12.

"There is a concept which is currently being implemented in Kazakhstan. We are talking about approaching sales markets attractive for the country," Mukhanov said.

The JSC board head stressed that Kazakhstan has several particularities - a large area which leads to higher transport costs and the remoteness from the sea and subsequently, ports. However, Kazakhstan is located between the two economically strong states of Russia and China.

"The first attractive market for us is a booming area in western China - Xinjiang Uygur Autonomous Region. About 80 million people will live there, according to experts. This is a huge market, to which we can become oriented," Mukhanov said.

Russia can become the second promising market for Kazakh goods, according to Mukhanov.

"Two large cities with a population of five million are located on our border with Russia. We can concentrate on these cities," the JSC head said.

He also emphasised the southern direction as a promising market for Kazakh goods.

"There are great opportunities in Turkish and Iranian markets, plus the Central Asian market itself with a population of around 60 million. Therefore, it is important for Kazakhstan to place its production forces so that to bring these markets closer," Mukhanov said.

Translated by L.Z.

Edited by S.M.