The trade turnover between Kazakhstan and Lithuania amounted to $ 481.6 million

Nur-Sultan - June 11, 2021. Director of the Department of International Cooperation of the Ministry of Trade and Integration of the Republic of Kazakhstan Kanat Olzhabayev met with the business delegation of the Confederation of Industrialists of the Republic of Lithuania.

During the meeting, the parties discussed the agenda of the upcoming 13th meeting of the Kazakh-Lithuanian Intergovernmental Commission on Trade and Economic Cooperation in 2021.

Thus, the trade turnover between the countries in 2020 increased by 16.6% and amounted to 481.6 million US dollars compared to 2019 (413.2 million US dollars), despite the global COVID-19 pandemic, which has caused huge damage to the global economy.

Kanat Olzhabayev said that the increase in exports to Lithuania is justified by an increase in the supply of such goods as crude oil, sulfur, copper, ferrous scrap, etc. The increase in imports from Lithuania is justified by the increase in imports of such goods as: consoles, panels, tables for electrical equipment, equipment for processing rubber or plastics, other equipment for agriculture, horticulture, forestry, etc.

At the same time, Kazakhstan has a great potential to increase exports of processed goods to Lithuania by more than 50 positions in the amount of 205 million US dollars.

The Kazakh side presented a number of proposals for trade and economic cooperation within the framework of the project of the International Center for Trade and Economic Cooperation "Central Asia", as well as in the context of the new concept for the development of the ICBC "Khorgos".

In turn, the representative of the Confederation in Kazakhstan and Central Asia, Andrius Burba, said that Lithuania is also interested in developing mutual trade with Kazakhstan and is ready to supply products in various fields.

Following the meeting, in order to further develop trade and economic cooperation between the countries, as well as noting the potential for cooperation, the parties agreed to cooperate in the field of information and communication technologies, in the field of energy, in the field of tax issues/disputes, training of maritime personnel, transit transport, road transport, education and science

The parties expressed the opinion that the result of this meeting will be concrete proposals for cooperation and the signing of documents within the framework of the 13th meeting of the IPC.