The volume of
Kazakhstan’s exports to the countries of the Eurasian Economic Union (EAEU) has
grown by 90 percent since 2015. In monetary terms, it reached nearly $10
billion by the end of 2022, compared to slightly over $5 billion seven years
ago. Over the past years, trade between Kazakhstan and the EAEU countries has
increased by 74 percent, totaling $28 billion. Kazakh Minister of Trade and
Integration Arman Shakkaliyev reported on the development of trade policy,
noting the country’s readiness to become a logistics hub of the EAEU and the center
for Eurasian industrial cooperation. Kazakhstan’s initiatives toward this goal
are already being worked out. Shakkaliyev emphasized that the EAEU member
states have established common criteria for industrial processing across 450
product items. Furthermore, the list of products confirmed by the ST-1
certificate of origin has been expanded. The minister underscored that these
efforts will boost Kazakhstan’s exports to the markets of partner countries,
surpassing an annual volume of $100 billion. Additionally, prospects for
concluding free trade agreements with third countries are opening up for Kazakhstan.
“We engage in free trade with Serbia and Vietnam, as well as with Iran in a limited format. Thus, our trade turnover with Vietnam has grown by 2.5 times over seven years, with Iran experiencing a 38% increase over three years, and with Serbia, a threefold rise within the first year of the Agreement, reaching $80 million. Today, on December 25th, as part of the meeting of the Supreme Eurasian Economic Council, the Heads of State are set to sign a Free Trade Agreement with Iran. A similar agreement has been signed with Singapore and is currently undergoing domestic procedures. Negotiations are underway to create a free trade zone with Egypt, Indonesia, and the United Arab Emirates,” Shakkaliyev said.
Web-editor: Aizhan
Related Articles
