Kazakhstan's trade sector to be further developed by state support program
BAKU, Azerbaijan, Aug.20
By Nargiz Sadikhova - Trend:
A State Program for Development of Trade for 2021-2025 has been developed in Kazakhstan, Kazakhstan’s Minister of Trade and Integration Bakhyt Sultanov said, Trend reports citing Central Communications Service under Kazakhstan’s President.
Sultanov made the statement during a press conference held on Aug. 20, 2020.
In his words the document provides for legislative measures to improve the functioning of the trade industry, as well as a wide range of tools to support business and develop trade infrastructure.
"The tasks and vectors of trade development defined in the program have been repeatedly discussed with business," Sultanov said.
Sultanov also said that the analysis of export growth prospects shows potential.
“The possibility of export increase only on 16 priority commodity items could increase overall export volume by $13.5 billion, whereas services export by $4.4 billion,” the minister said.
Among the priority export items are meat and other agricultural products, pesticides and fertilizers, metals, petrochemicals, as well as mechanical engineering, transport hub, IT, tourism services.
The total volume of Kazakhstan’s trade turnover amounted to $42.5 billion over the period from Jan. through June 2020 which indicates a decrease from $46.1 billion during the same period of 2019.
Kazakhstan’s export amounted to $26 billion during the reporting period of 2020 ($28.6 billion in the same period of 2019), whereas import amounted to $16.5 billion ($17.5 billion in 2019).
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