Mutual trade between Kazakhstan and Spain increased by 68%

The 9th Session of the Joint Intergovernmental Commission for Spanish-Kazakh Economic and Industrial Cooperation was held in Madrid under the co-chairmanship of Vice Minister of Trade and Integration of the Republic of Kazakhstan Kairat Torebayev and Secretary of State for Trade of Spain Xiana Margarida Méndez Bértolo.

The state and prospects of cooperation in the field of trade, industry, transport, healthcare, ecology were discussed, as well as opportunities for improving access to the market of goods and services of both countries were considered.

Both Vice-Minister K. Torebaev and Secretary of State for Trade X. Méndez noted the important role played by the Kazakh-Spanish Intergovernmental Commission and stressed the priority of further deepening and diversification of bilateral trade and economic relations between the two countries.

In this regard, the co-chairs of the commission exchanged specific initiatives to increase the volume of trade turnover. Thus, Kairat Torebayev proposed to his Spanish colleagues to jointly work out the issue of supplies of 75 commodity items, for which Kazakh enterprises can increase non-commodity exports by
$ 620 million.

The Co-chairman of the Kazakh part, Kairat Torebayev, held a number of working meetings with the heads of state-owned companies «MAXAM», «CESCE», ICEX and AJUSA to establish cooperation in terms of promoting Kazakhstani exports.

Within the framework of the Intergovernmental Commission, the «Kazakhstan-Spain» Business Council was held under the co-chairmanship of Aidar Arifkhanov (Chairman of the Board of «Baiterek» NMH» JSC) and President of the company « MAXAM» Jose Manuel Vargas.

The Business Council was attended by more than 80 representatives of Kazakh and Spanish companies in the field of industry, agriculture, transport, infrastructure, engineering, information technology, interested in the development of trade and economic ties between the two countries. At the opening of the Business Council, the Co-Chairs of the Intergovernmental Commission spoke, calling on businesses to step up their activities in the markets of both countries.

Following the results of the Business Council, memoranda of understanding were signed between the Development Bank of Kazakhstan (DBK) and CESCE, DBK and COFIDES, Kazyna Capital Management JSC and COFIDES.

For 8 months of 2021, mutual trade between our countries increased by 68%, amounting to $ 1.2 billion. At the same time, exports from Kazakhstan to Spain increased by 83.8% ($1.1 billion).