Sales turnover between Kazakhstan and Austria reached $4 bln


Sales turnover between Kazakhstan and Austria reached $4 blnThe first session of the Kazakh-Austrian Business Council was held in Astana.

During the meeting the sides signed the Charter of the Business Council, discussed the problems of cooperation in transport and logistic sphere, innovations and technologies sector, agriculture and food industry, construction and infrastructure, tourism and sport. In addition, opening of the representative offices of the largest Austrian companies in Kazakhstan, running of the technological equipment exhibition and financing export and import operations were debated as well.

As Co-Chairman of the Kazakh-Austrian Business Council Meiram Pshembayev noted during the session ‘at the moment Austria is the fourth largest partner of Kazakhstan in Europe in terms of trade and investment volume.’

“Kazakhstan, in its turn, has become the biggest partner of Austria in the post-Soviet space. There are more than 100 joint Kazakh-Austrian enterprises in Kazakhstan. The sales turnover between our countries has reached $4 billion,” M.Pshembayev said.

In his words, the priority directions of cooperation between Kazakhstan and Austria are transport technologies, health care and pharmaceuticals, tourism and energy.

The session of the Business Council will continue in Almaty today. The members of the Kazakh-Austrian Business Council are expected to touch upon the economic development of Almaty city, construction of new ski resorts in Almaty and 2017 Winter Universiade.

The agreement on the creation of the Business Council was signed by the Kazakh Chamber of Commerce and Industry and the Austrian Federal Economic Chamber within President Nazarbayev’s visit to Austria on 23 October 2012.

The Kazakh-Austrian Business Council was established as a coordination and consultative body promoting ties between the business circles of Kazakhstan and Austria.

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Kazakhstan and Austria’s investments in projects amount to 500 million euros


Kazakhstan and Austria are developing about 11 investment projects worth a total of EUR 500 million. This was on the sidelines of the first meeting of the Kazakh-Austrian Business Council in Astana, said the regional director of  «Kaznex invest» JSC Marhabbat Balgabay.

“Over the past year we have achieved considerable success in attracting investment. For example, today we have signed a preliminary memorandum of understanding in the field of sanitary products. «HerzArmaturen» company intends to attract about 20 million euros. With the construction site they are now certain about, but we hope that this year the project will have its own implementation “, said M.Balgabay, answering questions from reporters.

As stated by him Kazakhstan is cooperating with some 50 Austrian companies. “More than half of the companies have gained worldwide fame. We are now developing collaboration with the Austrians in our core sectors such as mechanical engineering, hydropower, renewable energy as a whole, building technologies, projects in the field of waste processing, and tourism ” summed up M.Balgabay.

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In 2012 trade volume between Kazakhstan and Austria totalled USD 5, 224.1 mln


Today, as part of the Kazakhstan-Austrian Business Council there took place a meeting between Director of International Cooperation Department of the Ministry of Economy and Budget Planning of Kazakhstan Kairat Torebaev and representatives of the Austrian business delegation, informs the press-service of Kazakhstan’s Ministry.

In his speech, Kairat Torebaev notes that today the bilateral trade and economic relations between Kazakhstan and Austria are distinguished by positive dynamics and have greater potential for growth. In January-April this year, the trade turnover of Kazakhstan and Austria made USD 1407.2 million.

Kazakhstan’s exports to Austria in January-April 2013 amounted to USD 1310.3 million. Importing from Austria to Kazakhstan in January-April 2013 arrived at USD $ 96.9 million.

The event was organized in order to expand trade and economic cooperation between the Republic of Kazakhstan and the Republic of Austria.

At the end of the event the Kazakh side thanked the Austrian businessmen for their active participation in international initiatives of Kazakhstan, such as the OSCE Summit in Astana, as well as for the support of the city of Astana to host the international exhibition – EXPO-2017.