The trade turnover between Kazakhstan and Brazil amounted to $109.8 million

Nur-Sultan - On October 20, 2021, Vice Minister of Trade and Integration of the Republic of Kazakhstan Kairat Torebayev met with the Governor of the State of Bahia Rui Costa Dos Santos.

Brazil is an important and promising trading partner for Kazakhstan. Thus, the trade turnover for 8 months of 2021 increased 2.3 times and amounted to $109.8 million. At the same time, exports in January-August 2021 increased by 92.6% and amounted to $47.4 million. Imports in January-August 2021 increased 2.7 times and amounted to $62.4 million.

It is noted that the structure of Kazakhstan's exports is dominated by sulfur, ferroalloys, ferrous metal products and uranium. Brazilian imports consist mainly of sugar, fruit and vegetable juices, coffee, medicines.

In addition, the Kazakh side proposed to take joint efforts to diversify trade flows and increase the volume of mutual trade. According to Kairat Torebayev, there are 5 enterprises with Brazilian participation in Kazakhstan.

"Kazakhstan is ready to supply 55 potential goods worth $433.8 million. We have the opportunity to increase the supply of products from the metallurgical, food, chemical and machine-building industries," Kairat Torebayev said.

Vice - Minister of Trade and Integration of the Republic of Kazakhstan Torebaev K. proposed to use the potential of ICBC "Khorgos" to attract Brazilian investments, as well as to use it as a platform for wholesale and retail exports to the PRC market.

He noted that currently the Republic of Kazakhstan is implementing a network of cross-border industrial trade and logistics hubs that will serve as reference points of the Unified Commodity Distribution System of the EAEU (ETPS) and Central Asian countries with further prospects for expansion. The Brazilian side was also offered to comprehensively develop clusters of international trade on the basis of hubs, which will ensure the formation of stable cooperation ties at the international level.

"The advantages of the FEZ "ICBC "Khorgos" are access to the market of the PRC and the EAEU, visa-free regime, tax benefits provided to FEZ participants, duty-free trade, availability of ready-made engineering and transport infrastructure," Kairat Torebayev said.

At the same time, the Kazakh side noted the importance of cooperation between Kazakhstan and Brazil through the upcoming 12th WTO Ministerial Conference. It is noted that Kazakhstan has a liberal regime for trade, investment and business.

During the meeting, Deputy Director General of JSC "Center for the Development of Trade Policy "Qaz Trade" Kulbatyrov Nurlan presented a presentation on a wide range of tools in the promotion of exports, integration processes, regulation of domestic trade. The organization presented itself as a future partner for the establishment of Brazilian business in Kazakhstan.

In turn, the Governor of the State of Bahia, Rui Costa Dos Santos, noted that Brazil has great potential and is ready to cooperate in the petrochemical and processing sector, agriculture and mining.

Mr. Rui Costa Dos Santos said that Kazakhstan can count on establishing its trade and economic plans and use the South Sea port, which is located in the state of Bahia.

Following the meeting, the parties agreed to identify common topics in which it is already possible to start general cooperation, as well as to continue the development of trade and economic relations.