Creating the Trade Data Exchange Platform

Today, on February 4, 2021, Vice-Minister of Trade and Integration of the Republic of Kazakhstan, Asel Zhubanyshevna Zhanasova and Sanzhar Ulfatovich Kettebekov, Aitu-Sauda LLP signed a Memorandum of Cooperation.

The subject of the Memorandum is the creation of the Trade Data Exchange platform. Thus, the parties agreed to cooperate in order to improve the procedures for conformity assessment and digitization of the certification processes.

This cooperation will also make it possible to trace products along the entire chain from the importer and manufacturer to the consumer and export.

And, in addition, MIT will be presented with the necessary analytics of big data on the flow of goods to improve the use of export government support measures, economic security and attract investment.

The main task will be to create Analytics platform for trade, which will include an extensive database in Commerce from various sources: statistics Bureau, NB, SRC, data of sectoral and international (WTO, Comtrade, FAO, WB, etc.).
This will allow us to generate better information and aggregate important information on international market factors and commodity markets.

In addition, it will be possible to integrate various data on domestic and foreign trade in one platform, generate reports on import substitution and export opportunities, conduct real-time monitoring of prices of socially important food products and, in general, analyze food and non-food retail.

"This year, Kazakhstan took over the chairmanship of the Eurasian Economic Union, and in this context, the Head of State instructed to pay special attention to the development of Eurasian integration, the elimination of trade barriers and ensuring the freedom of movement of goods and services. In this regard, the Ministry expresses its readiness to start working in these areas together with Aitu-Sauda LLP, " Bakhyt Sultanov said.