Kazakhstan allocates funds to develop export geography

Business Materials 28 January 2019 16:47 (UTC +04:00)

Baku, Azerbaijan, Jan. 28

By Rashid Shirinov – Trend:

Kazakhstan has allocated 500 billion tenge to prevent losses in traditional export markets and expand the geography of supplies and product range in 2019, Trend reports referring to the Kazakh media.

"Some 220 billion tenge will be used to finance export-oriented projects," Arystan Kabikenov, Vice Minister for Investment and Development of Kazakhstan, said at a briefing.

He noted that 80 billion tenge will be spent on crediting exporters through the tools of the Development Bank of Kazakhstan. It is also planned to increase the authorized capital of the Export Insurance Company KazakhExport by 68 billion tenge and to introduce a new type of state guarantee for the amount of 102 billion tenge.

It is also planned to organize trade and economic missions, national exhibitions abroad, marketing promotion of products, a comprehensive analysis of sales markets, and reimburse part of the costs of product certification to exporters. Due to these measures, export revenues are expected to grow by 725 billion tenge until 2021.

It should be noted that in 2018, KazakhExport supported 50 exporters, including 27 new companies. The supported export contracts amounted to 419.7 billion tenge.

(377.46 KZT = 1 USD on Jan. 28)


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