Economic Opportunities of Kazakhstan Presented in Norway

OSLO, June 18, 2019 — The business seminar titled “Kazakhstan: New Economic Opportunities” was held in Oslo. The seminar, organized by the Embassy of Kazakhstan, was attended by more than 30 representatives of the Norwegian business and line agencies representing the fields of transport and logistics, agriculture, trade, telecommunication, energy, construction, food industry and others.

Delivering the keynote address, Deputy Minister of Foreign Affairs of Kazakhstan Roman Vassilenko informed about the results of the presidential election in Kazakhstan and the ten priorities identified by President Kassym-Jomart Tokayev in his inaugural speech.

“The motto of the Head of State is “Continuity, justice and progress”. The President clearly marked the openness of Kazakhstan to the world, new achievements and new technologies. Our country will continue to support business people, attract and protect investment, promote business activity and strengthen the middle class,” the Deputy Minister noted.

The trade turnover between Kazakhstan and Norway in 2018 amounted to a little more than 60 million dollars, which, according to R. Vassilenko, indicates significant potential for trade and economic cooperation. The business seminar identified three main areas for interaction in the midterm. First of all, it is establishment of transport communication and logistics between Kazakhstan and Norway. The second promising area is agriculture, with a focus on the supply of wheat from Kazakhstan, fish and seafood from Norway, as well as the joint development of aquaculture.

Roman Vassilenko also presented the prospects opening up for the Norwegian business in the Astana International Financial Centre. “This is the first institution in the region that offers a complete and comprehensive legal platform for attracting, implementing and protecting investment. We invite Norwegian law firms to consider the AIFC as an alternative, more attractive place for resolving disputes. We also invite financial institutions, private investors, and fintech innovators to use all the advantages offered in this unique centre,” Roman Vassilenko said. The Deputy Minister informed about the potential for cooperation of the Astana Hub — International Hub for IT Startups and the International Center for Green Technologies and Investment Projects with the Norwegian development institutions.

Regional representative of the Kazakh Invest National Company Zhandos Nurlanov briefed on the preferences and benefits for foreign businessmen in Kazakhstan at the business seminar.