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Kazakhstan encourages Croatian businesses to undertake projects together

Kazakhstan Materials 1 May 2024 16:33 (UTC +04:00)
Kazakhstan encourages Croatian businesses to undertake projects together
Madina Usmanova
Madina Usmanova
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ASTANA, Kazakhstan, May 1. Kazakhstan invites Croatian businesses to jointly implement projects, said the foreign representative of KAZAKH INVEST (a national company) Ulbossyn Sarybayeva, Trend reports.

She made the remark during the first meeting of the Business Council of Kazakhstan and Croatia in Zagreb.

Sarybayeva also introduced Croatian businessmen to measures of state support for investments and mechanisms for protecting the rights of investors in Kazakhstan.

"One of our top priorities is to strengthen commercial and investment partnerships with Croatia. In 2023, the volume of mutual trade expanded by over 20 percent. We see tremendous opportunity for increasing relationships in the sectors of construction, information technology, medicines, the food industry, and trade," she noted.

At the same time, during the event, the Chairman of the Board of the Kazakh Foreign Trade Chamber Murat Karimsakov and Luka Burilović, President of the Croatian Chamber of Economy, signed a Memorandum of Understanding between the two chambers and an agreement on the establishment of the Business Council of Kazakhstan and Croatia.

In addition, an agreement on strategic cooperation was signed between Aspan Construction Company and VS Engineering.

Following the event, business circles discussed key aspects of the bilateral economic agenda, identified priority areas, and agreed on cooperation in such areas as energy, IT, tourism, pharmaceuticals, agriculture, and the food industry.

To note, the volume of trade turnover between Kazakhstan and Croatia amounted to $432 million in 2023. The structure of trade turnover is dominated by Kazakh exports to Croatia (398 million), while imports from Croatia amounted to $34 million.

The National Company KAZAKH INVEST JSC was established in accordance with the Resolution of the Government of the Republic of Kazakhstan No. 100 dated March 1, 2017 "On the renaming of the National Export and Investment Agency KAZNEX INVEST Joint-Stock Company in order to promote the Republic of Kazakhstan's sustainable socioeconomic development by attracting foreign investment in priority sectors of the economy and comprehensive support of investment projects."

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