BAKU, Azerbaijan, December 2. Promising areas of trade and economic cooperation between Slovakia and Kazakhstan are, in particular, automotive and mechanical engineering, digitalization and smart solutions, the green economy, water management and tourism, a source in the Embassy of Slovakia in Kazakhstan told Trend reports.
According to the source, relations between Slovakia and Kazakhstan are politically stable, and all conditions are in place for the successful growth of economic cooperation and people-to-people interactions.
"In 2022, Slovakia's trade volume with Kazakhstan will have more than doubled compared to the previous year. Slovak exports totaled 87.7 million euros, while imports totaled 78.8 million euros. Slovak exports totaled 52.1 million euros in the first six months of 2023, while imports totaled 12.3 million euros, representing a 280 percent growth in exports over the same period the previous year", the source said.
The primary products of Kazakh exports to Slovakia, according to the source, are now petroleum gases and gaseous hydrocarbons.
"Given Kazakhstan's interest in increasing exports of mineral raw materials, a similar development can be expected in the future. Cooperation in the modernization of thermal power plants and the construction of new sources of electricity, as well as the export of technologies to improve the efficiency of the existing energy infrastructure, including the use of renewable energy sources, could also be a promising area," the source said.
The source pointed out that, looking at the commodity structure of Slovak exports over a longer time horizon of five years (2018-2022), the key position of the 5 main commodity groups on which the total annual export volumes then depended is documented.
"These are: vehicles other than railway rolling stock, their parts and accessories; reactors, boilers, machinery, apparatus, equipment, parts and components thereof; electrical machinery and equipment, sound recording apparatus, television image recording apparatus, parts and components thereof; paper and paperboard; rubber and articles thereof," the source added.