Spheres of interest for cooperation of European business with Kazakhstan revealed (Exclusive)

Business Materials 24 September 2019 08:00 (UTC +04:00)

Baku, Azerbaijan, August 24

By Nargiz Sadikhova - Trend:

Currently, automobile market and further development of Kazakhstan’s consumer goods market are of significant interest to European partners, CEO of Association of European Business (AEB) Frank Schauff told Trend in an interview.

According to Schauff, over the course of last few years, Kazakhstan has significantly increased its position in Doing Business global index and has even taken leading positions by some indicators.

"This is the sign of the high development level of country’s entrepreneurship, which is very attractive for foreign investors," he said.

He also noted the politic and economic stability of the country, as well as dynamic development of the country as a member of Eurasian Customs Union as the reasons for increasing interest in cooperating with Kazakhstan.

"We know that Kazakhstan is the second among countries of Eurasian Economic Union by the size of population and GDP. The main driver of the country’s development is high-volume export of mineral and energy resources. Country’s agriculture is also an important area of its economy," Schauff said.

He further stated that automobile market and further development of Kazakhstan’s consumer goods market are of significant interest to European partners.

"This is why the existing Kazakhstan’s policy for development of small and medium business aimed at creation of new high technology manufacturing with most added value is an important positive factor," Schauff added.

Talking about the results of the cooperation of the member companies of AEB with Kazakhstan, he stated that these companies have been operating in the country in spheres such as energy, mechanical engineering, pharmaceuticals, food industry and others.

"Furthermore, in July 2019, AEB together with the embassy of Kazakhstan in Russia and Trade Representation of Kazakhstan in the Russian Federation has held a presentation on Kazakhstan’s investments potential for representatives of European business in Moscow," Schauff remarked.

He added that within of the event, the member companies of AEB have got acquainted with large-scale work on improving business climate and supporting foreign investors, which is being carried out Kazakhstan.

He further commented on high level of interest of European business in progressive development of mutually beneficial cooperation and expansion of business relations with Kazakhstan, given that over 90 member parties of AEB participated in the presentation.

"Furthermore, Astana Economic Forum is also very popular among foreign investors, making it a very influential international platform to discuss issues of developing global economy and finances," Schauff concluded.


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