Kazakhstan is set to increase
exports to Vietnam, identifying significant potential for 35 types of products
worth nearly $100 million. This was discussed at the 11th meeting of the intergovernmental
commission on trade, economic, scientific, and technical cooperation between
the two countries in Astana. Kazakhstan can primarily supply goods in
industries such as metallurgy, petrochemicals, chemicals, and food production.
The country is also keen on exporting grain, flour, pasta, dairy, and meat
products. For the latter, it is necessary to develop standards and undergo a
certification process to ensure compliance with safety and quality
requirements. The parties agreed to provide information on sanitary and
veterinary requirements for livestock product exports in the near future.
“Last year, a new format of
interaction between Kazakh-Vietnamese businesses emerged at the trade mission
platform in Hanoi. We are now ready to increase exports across 35 commodity
items by $100 million in the near future. Kazakh companies in export
acceleration have identified Vietnam as their target market, and the program
has shown that most companies are considering entering the Vietnamese market
through local representatives or distributors. In September last year, business
meetings with major companies were held to enhance cooperation,” said Kazakh
Minister of Trade and Integration Arman Shakkaliyev.
It is worth noting that mutual
trade between Kazakhstan and Vietnam is on the rise. Last year, it surged by 85
percent, reaching $980 million. In the summer of 2023, the heads of the two
states agreed to bring bilateral trade turnover to $1.5 billion in the coming
years.
