SMEs prevail in Kazakhstan's exports to the EAEU

According to Vice-Minister of Trade and Integration of the Republic of Kazakhstan Zhanel Kushukova, the main Kazakh suppliers to the EAEU markets are small and medium-sized businesses.

Speaking at a briefing in the Central Communications Service, Zhanel Kushukova recalled that the First President of Kazakhstan – Elbasy set a strategic goal – to bring the share of SMEs in GDP to 50% by 2050. Head of State Kassym-Jomart Tokayev instructed the government to increase the share of SMEs in GDP to 35% in the next five years.

"When discussing the EAEU Development Strategy for the coming years, Kazakhstan has repeatedly stressed that the creation of joint industrial enterprises and the strengthening of ties between the industrial entities of the member states will serve as an additional impetus for removing barriers in the EAEU market and increasing the volume of mutual trade," Kushukova said. She also said that over the 6 years of the EAEU's operation, the number of joint ventures in Kazakhstan has increased from 6,272 to 13,503 since 2015.

According to the Vice-Minister of Trade, Kazakhstan considers the deepening of industrial cooperation to be the central element of the development of the EAEU until 2025.

"At the upcoming Supreme Eurasian Economic Council in a few days, the presidents will consider the main areas of industrial cooperation. All participants of the Eurasian Economic Union regard industrial cooperation as one of the tools for improving the quality of the export line of goods, " she said.