On the results of the visit of the Austrian delegation to Nur-Sultan within the framework of the 10th meeting of the Kazakh-Austrian Intergovernmental Commission on Economic, Agricultural, Environmental, Industrial, Technical and Technological Cooperation

On September 21-24, the 10th anniversary meeting of the Kazakh-Austrian Intergovernmental Commission was held in Nur-Sultan under the co-chairmanship of Vice-Minister of Trade and Integration of the Republic of Kazakhstan Kairat Torebayev and Director General for Economic Standards, Innovations and International Cooperation of the Federal Ministry of Digitalization and Economy of the Republic of Austria Florian Frauscher. The meeting was opened with video messages from the Minister of Trade and Integration of the Republic of Kazakhstan Bakhyt Sultanov and the Federal Minister of Digitalization and Economy of the Republic of Austria Margareta Schrambök. The meeting was attended by representatives of a number of ministries and governmental bodies of the two countries. During the meeting, the parties agreed to continue the fruitful cooperation in the fields of trade and investment, finance, banking, energy, environmental protection, housing and utilities, transport and infrastructure, digitalization, healthcare and agriculture.

The inflow of foreign direct investment to Kazakhstan from Austria amounted to more than $40 million by the end of 2020. The trade volume between Kazakhstan and Austria for the period January-July 2021 amounted to $96.4 million, which is 14% higher compared to the same period of the previous year ($84.6 million). Exports from Kazakhstan to Austria in January-July 2021 decreased by 59.1% and amounted to $ 1.0 million. Imports to Kazakhstan from Austria in January-July 2021 increased by 16.2% and amounted to $95.4 million.

About 400 Austrian companies have active business relations with Kazakhstan, among them 83 enterprises with austrian participation, including joint ventures, carry out their activities in Kazakhstan.

During the meeting, a memorandum of understanding was signed between Frequentis AG, one of the world leaders in the field of aviation dispatch services, and “Kazaeronavigation” RSE. A memorandum of understanding was also signed between the Austrian Control Bank (OeKB) and the Damu Entrepreneurship Development Fund. It is expected that in the near future, financial institutions will sign an agreement on the allocation of a credit line of 20 million euros by the Austrian side for the development of joint projects of Kazakh and Austrian small and medium-sized businesses in Kazakhstan.

During the visit, the Austrian delegation also held meetings with the Speaker of the Senate of the Parliament of the Republic of Kazakhstan Maulen Ashimbayev, Deputy Minister of Foreign Affairs of the Republic of Kazakhstan Almas Aidarov, Vice Minister of Industry and Infrastructure Development of the Republic of Kazakhstan Ruslan Baimishev and representatives of other departments.

On the same dates, an Austrian business delegation consisting of more than 20 companies, headed by Vice-President of the Austrian Chamber of Economics Richard Schenz, visited the cities of Almaty, Nur-Sultan and Karaganda. The business delegation held a number of B2B meetings with Kazakhstani companies, visited the 9th Forum of Machine Builders of Kazakhstan, got acquainted with the activities of the “Saryarka” Special economic zone and took part in the 8th meeting of the Kazakh-Austrian Business Council under the co-chairmanship of the Adviser to the President of the Republic of Kazakhstan - Chairman of the Board of the Union of Mechanical Engineers of Kazakhstan Meiram Pshembayev and the Vice-President of the Austrian Chamber of Economics, Richard Shenz.

At the end of the visit, the parties expressed their intention to deepen dynamic bilateral economic relations, as well as to consider the possibility of organizing mutual visits at high and top levels.