Kazakh president discloses amount of funds allocated to support export

Business Materials 11 June 2021 07:38 (UTC +04:00)
Kazakh president discloses amount of funds allocated to support export

BAKU, Azerbaijan, June 11


The necessary institutional framework for export development has been created, President of the Republic of Kazakhstan Kassym-Jomart Tokayev said, Trend reports with reference to Kazinform news agency.

"A specially authorized body - the Ministry of Trade and Integration was created in 2019," the president said at a meeting of the Foreign Investors’ Council.

"At the moment, this ministry offers a full package of support to local exporters, namely, 20 instruments of financial and non-financial support," President Tokayev added.

"A single window operates on the basis of Kaztrade, which operates in a front office format 24/7," the president said.

"Through it, exporters receive a full range of support measures, namely, consultations, resolution of disputes with contractors, reimbursement of part of the costs of promoting products abroad and other services," President Tokayev said.

"In total, about $1.2 billion was allocated to support export," the president said. "In a word, our plans for the development of export are supported institutionally and financially."

The 33rd Plenary Session of the Foreign Investors’ Council chaired by the president is being held online.

The heads of big multinational companies, heads of state agencies and representatives of international organizations attended the event.

Foreign Investors’ Council was created on the initiative of First President of Kazakhstan Nursultan Nazarbayev.

Thus, Foreign Investors’ Council is an effective platform that unites major foreign investors in Kazakhstan and gives an opportunity to discuss the most important issues related to the development of the national economy and improvement of the investment climate.

The Council consists of the heads of 37 big multinational companies and international organizations, as well as heads of key ministries.