BAKU, Azerbaijan, June 8. Kazakhstan has the potential to boost its exports of goods to the US across several sectors, Kairat Torebayev, Vice Minister of Trade and Integration of Kazakhstan said during an investment roundtable discussing further cooperation with the US, Trend reports.
"We are proposing several products that we can export and where we can enhance our export potential. For example, we anticipate approximately $700 million in sales to the US. In other words, there are numerous opportunities for us to begin exporting as early as tomorrow," said Torebayev.
Furthermore, the vice minister emphasized the development of access routes to the Chinese market.
"Another key priority sector we would like to draw attention to is the sale of electrical goods, one of the largest market sectors globally, amounting to around $3.4 trillion, with China accounting for approximately 40 percent of this turnover. As such, we have significant programs in place to enter the Chinese market, such as utilizing the Alibaba platform. Last year, we managed to create approximately 700 different 'gold' accounts, enabling our companies to export through them," added Torebayev.
Furthermore, it was noted that the US investment inflows to Kazakhstan nearly doubled in the past year following the COVID-19 pandemic, surpassing $5.1 billion.
The roundtable was attended by representatives of more than 20 major companies from the US, such as Apple, Microsoft Corporation, Boeing Company, Chevron, The Coca-Cola Company, EPAM Systems, ExxonMobil, Google, General Electric, Mastercard, Valmont Industries, Baker Hughes, Citibank and others.