Kazakhstan and Yakutia are ready to develop joint projects

Deputy Prime Minister - Minister of Trade and Integration Serik Zhumangarin met with a delegation from Yakutia headed by First Deputy Prime Minister of the Sakha Republic Kirill Bychkov.

The parties discussed the potential for the development of trade and economic relations, in particular, the promotion of non-primary goods and services.

Serik Zhumangarin noted that last year there was a significant increase in trade between Kazakhstan and the Republic of Sakha. The trade turnover increased almost 55 times and reached $77.9 million. Moreover, both Kazakhstan's exports and the volume of imports from Yakutia have increased.

«Over the past year, we have been able to arrange the supply of new industrial goods to the Sakha Republic. At the same time, Kazakhstan has the opportunity to increase exports to Russia for 180 items of processed goods worth about $ 1 billion. We are ready to work out the needs of your market and the necessary supplies», — the Deputy Prime Minister said.

Kazakhstan successfully applies the practice of conducting reverse trade and economic missions. Such business events allow for a better understanding of the business opportunities of the two countries, as well as contribute to the establishment of long-term trade and economic ties. Only in the last two years, the Ministry of Trade and Integration of the Republic of Kazakhstan, in cooperation with «QazTrade», organized trade missions to Moscow, Kazan and Yekaterinburg.

«Our businessmen don't know much about Yakutia, we need to open this direction for them. We are ready to consider the possibility of conducting a trade and economic mission of the Republic of Kazakhstan to the Republic of Sakha to get acquainted with the market», — S. Zhumangarin said.

Affordable logistics and developed infrastructure play an essential role in the development of trade and economic relations. Kazakhstan is currently developing a unified strategy for the development of cross-border hubs. The concept of hubs includes a network of five border centers of trade, transportation, logistics and industrial cooperation. In this regard, the Deputy Prime Minister invited Yakut businessmen to participate in the implementation of these projects.

In turn, representatives of the delegation of the Sakha Republic showed great interest in the creation of joint ventures with Kazakhstan. According to Kirill Bychkov, there are many promising areas for cooperation between our countries.

«Today's meeting is very important for us, as it largely continues the agreements reached during the visit of the head of our republic to Kazakhstan in January this year. We are ready to develop a joint business with Kazakhstan. We can offer the production of veterinary vaccines in Kazakhstan, as well as implement projects in the field of digitalization of industries, manufacturing, agriculture, energy and housing. We have accumulated experience and technologies to improve energy efficiency and we are ready to share them», — said the First Deputy Chairman of the Government of the Sakha Republic.

Potential partners see opportunities to intensify joint work by increasing exports of fuel and energy goods, jewelry, environmentally friendly food products from Yakutia, as well as imports of industrial products, various equipment and food from Kazakhstan.

Today, the basis of Yakut imports are precious metals, equipment for the processing industry, vaccines. Kazakhstan exports parts for machines and devices, engines, radiators, air heaters made of ferrous metals, parts and accessories of machines for information processing, inventory and equipment for sports and others.