Kazakhstan and Russia are expanding industrial and investment cooperation by implementing 40 joint projects worth $16 billion, as it became known during the Innoprom Kazakhstan 2023 exhibition in Astana. This year it is held with the participation of the heads of government of the EAEU countries who were the first to get acquainted with the pavilions of the international exposition, where more than 300 companies from the member countries presented their products. The main themes of the exhibition were medical equipment, industry, metallurgy, industrial IT, chemical, construction and light industry. Special attention was paid to the production of agricultural equipment and machinery.
“The capacity of all these plants
is about 35,000 units per year. We are currently supplying the domestic market,
but in the future, we consider tapping into neighboring markets as well. In
general, as for the industry development, we can say that we have a sufficient
number of brands and models of tractors and combines, and we are already
working on the development of mounted and trailed equipment,” said Alibi Sultan,
spokesperson for the Association of Kazakhstan Automobile Business.
Besides the exhibition, a
dialogue platform has been set up for the EAEU member countries. The forum,
which takes place in the form of panel discussions, was opened by Kazakh Prime
Minister Alikhan Smailov. He noted that the scale of the event indicates a high
level of cooperation between the partner states of the economic union. For
example, last year alone, the trade turnover between Kazakhstan and the EAEU
members amounted to almost $30 billion, representing an increase of over 10
percent.
“I believe that the trend will
continue in the current year. In the first six months of this year, trade
turnover amounted to nearly $14 billion. Kazakh President Kassym-Jomart Tokayev
has repeatedly emphasized that industrialization should become the main driver
of economic diversification. Accelerated development of the manufacturing
sector should be prioritized to build a strong industrial framework and ensure
economic self-sufficiency. The Kazakh government is taking measures to
implement projects aimed at creating high value-added clusters,” said Smailov.
To date, as part of the
partnership with the EAEU countries, Kazakhstan has already implemented 38
joint industrial projects, another 80 projects are currently under development.
