BAKU, Azerbaijan, June 30. Kazakhstan is ready to boost exports to Switzerland by another 90 commodity items worth $546.4 million, Serik Zhumangarin, Kazakhstan's Minister of Trade and Integration said at the 11th meeting of the Kazakh-Swiss Commission on Trade and Economic Cooperation, Trend reports.
"We have analyzed our potentially export-ready goods, and we are ready to expand the current list by another 90 commodity items worth $546.4 million. Recognizing the exceptional quality of Swiss goods, we are prepared to offer premium segment products, including caviar, fish, honey, and alcohol products. Our team is actively engaged with the European Commission in facilitating these exports. We have already obtained approval for fish product exports, and we are diligently working on finalizing arrangements for honey," Zhumangarin said.
Furthermore, the minister noted that the trade turnover between the countries reached $1.4 billion in 2022. In his opinion, there are still opportunities to increase this number.
Additionally, during the meeting, the participants discussed various aspects of bilateral cooperation in areas of mutual interest, including trade, investment, agriculture, aviation, energy, technical regulation, standardization, metrology, education, science, intellectual property, and venture investments. As a result of the intergovernmental commission, both parties agreed to exchange lists of potential export goods for trade between Kazakhstan and Switzerland.
Swiss businesses have established a significant presence in Kazakhstan, with several industry leaders serving as prominent examples. These include Philip Morris International in the tobacco industry, Glencore International in mining and metals, Roche Holding in pharmaceuticals, SGS in certification services, ABB in electrical engineering, Bühler Group in mechanical engineering, and many more. Overall, approximately 300 companies with Swiss capital actively operate in Kazakhstan.
Switzerland ranks among the top three investors in Kazakhstan, with the Netherlands and the US taking the lead. Since 2005, Swiss direct investments in Kazakhstan have surpassed an impressive $31 billion.