The Ministry of Trade of the Republic of Kazakhstan and the EDB will implement digital integration projects

Almaty, February 4, 2021. Today, on February 4, 2021, the Minister of Trade and Integration of the Republic of Kazakhstan Bakhyt Sultanov and the Deputy Chairman of the Board of the Eurasian Development Bank (EDB) Amangeldy Isenov signed a memorandum of cooperation.

The memorandum is aimed at establishing and developing long-term, mutually beneficial cooperation in the implementation of digital projects in the field of trade in Kazakhstan and other EDB member states.

Within the framework of the memorandum, the Parties intend to increase the involvement of the private sector, including small and medium-sized enterprises, as well as to scale the best digital solutions in the field of trade in the Eurasian space.

According to the document, the cooperation is planned in the following areas: promotion of exports of manufactured goods and services, the development of domestic trade, improving trade-related infrastructure, the development of exchange and electronic Commerce, the development of international trade-economic relations in the Eurasian space, development of international exchange trading at commodity exchange Eurasian space, development of wholesale distribution centers in the field of agro-industrial complex, involvement of small and medium-sized businesses in integration processes through the use of digital solutions in the Eurasian space, creation of mechanisms and channels to increase the transparency of trade and the safety of goods (works, services).

"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 work together with the EDB in these areas, " Bakhyt Sultanov said.

"We are facing a very important and urgent task – the formation of digital projects that contribute to the development and integration of countries in the Eurasian space," said Amangeldy Isenov, Deputy Chairman of the EDB Management Board. "As the leading international development bank in the region, we are interested in participating and assisting in the projects implemented by the Ministry using the accumulated expertise and financial instruments of the EDB."

 

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The Eurasian Development Bank (EDB) is an international financial organization that promotes the integration and development of the participating countries: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan. The authorized capital of the EDB is US $ 7 billion. The Bank was established in January 2006 by Russia and Kazakhstan, and is headquartered in Almaty. The main share in the EDB portfolio is occupied by projects with an integration effect in the areas of transport infrastructure, energy, chemical and mining industries, and mechanical engineering.