Israeli business interested in expanding cooperation with Kazakhstan

Israeli business interested in expanding cooperation with Kazakhstan

Israeli companies intend to apply advanced technology of the agro-industrial complex in investment projects in Kazakhstan. This was announced during the meeting with the Chairman of the Management Board of the NС KAZAKH INVEST JSC Meirzhan Yussupov by the Extraordinary and Plenipotentiary Ambassador of the State of Israel in the Republic of Kazakhstan Liat Vekselman, Trend reports citing Kazinform.

During the negotiations, the parties discussed a wide range of issues of cooperation of the business circles of the two countries in the branches of the agro-industrial complex, digitalization, and innovative technologies.

As Liat Vekselman noted in her speech, Israel today occupies the leading position in the world in the implementation of innovative solutions in agriculture. Israeli business is particularly interested in the intensive development of the Kazakhstan’s agro-industrial complex and intends to participate in improving this industry.

In turn, Meirzhan Yussupov said that under the COVID-19 pandemic and the decline in global flows of foreign direct investment, the Government of Kazakhstan takes active measures to maintain the country's economic growth. In turn, KAZAKH INVEST, as a unified negotiator on behalf of the Government of the Republic of Kazakhstan, when discussing the prospects and conditions for the implementation of investment projects, is ready to provide comprehensive support to improve business activity between the two countries.

At the same time, the Chairman of the Chamber of Commerce, Israel-Kazakhstan, Michael Roe, spoke in detail about the advanced technologies used by Israeli businessmen when growing vegetables. And also said that Kazakhstan has all the necessary resources to occupy the leading position in the world as a supplier of agricultural products.

Following the meeting, the parties agreed to conduct several presentation meetings with the participation of business circles of the two countries, as well as further increasing the pace of bilateral investment cooperation.

Reference: As of April 1, 2020, 144 enterprises were registered with the participation of Israeli capital in the construction, oil and gas, metallurgical, manufacturing, cable products, telecommunications, finance and insurance, pharmaceuticals and medicine, trade, tourism, water supply, Agro-industrial complex, education, scientific, and technical sphere.

According to the National Bank of the Republic of Kazakhstan, the gross flow of FDI from Israel in the Republic of Kazakhstan for the period from 2005 to the 3rd quarter of 2020. amounted to $ 219.5 million in 5 months of 2020. The trade turnover between Kazakhstan and Israel reached $ 199.4 million, in 2019 the volume of mutual trade amounted to $ 514 million.

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