BAKU, Azerbaijan, June 25. Canadian Chicken Ltd (Kazakhstan), AgroTechManagement (Kazakhstan), and Georgian Industrial Group Ltd (Georgia) signed commercial agreements to promote Kazakhstan's agriculture, Trend reports.
The companies, as noted by Kazakhstan's prime minister's office, are going to invest approximately $50 million in the construction of a state-of-the-art agricultural machinery plant and the establishment of an integrated agro-cluster in Kazakhstan.
The agreements outline the collaborative efforts of the involved parties in developing a comprehensive agro-cluster, which will comprise a poultry and livestock feed plant, poultry farms, and a fish feed mill.
On June 23, Kazakhstan's Prime Minister Alikhan Smailov arrived on an official visit to Georgia. As part of the visit, the PM held one-on-one and expanded meetings with his Georgian counterpart. During these meetings, it was noted that over the past 17 years, Georgian investors have invested about $400 million in Kazakhstan, with over $100 million invested only last year. In turn, Kazakh entrepreneurs have invested more than $530 million in the Georgian economy.
It was also noted that the trade turnover between Kazakhstan and Georgia from January through April this year amounted to $167 million, which constitutes an increase of 5 times.
Moreover, last year the trade turnover between the countries increased 7 times, reaching a record figure of $600 million.