The Ministry of trade initiates subsidizing the interest rate on export loans

During the reporting meeting before the public, Minister of trade and integration Bakhyt Sultanov said that the Agency is initiating a new support tool-subsidizing the interest rate on export financing. "This will support contracts for the supply of high - tech products," Sultanov said. According to him, "there Is already a specific list of enterprises waiting for this form of support and ready to export such products annually for the amount of more than 300 billion tenge."

Currently, Kazakhstan has a proactive policy of supporting non-oil exporters.

So, during the past year alone, more than 300 Kazakhstani companies with the assistance of the Ministry took part in 50 foreign exhibitions and signed 63 export contracts worth 114 billion tenge.

The measure of support for compensating part of the costs of producers of processed products allowed 277 export-oriented enterprises to reduce transport costs by 6.8 billion tenge over 2 years. And the released funds should be invested in increasing the volume of production. As a result, their tax deductions increased by 45%.

Exporters also receive preferential credit and insurance support for contracts. For example, last year "Kazakhexport" accepted insurance obligations of 82 exporters for 97.1 billion tenge, this year-already 50
in the amount of 31.1 billion tenge.

We are initiating another support tool-subsidizing the interest rate on export financing. This will support contracts for the supply of high-tech products worth more than 300 billion tenge.

A new system of state support – acceleration of exporters-has been launched. This year, the accelerator is focused on the food industry. And about 40 companies have already been selected to be brought to the Chinese market.

According to the Minister, support for export acceleration by 2025 "will allow six hundred Kazakh enterprises to join the ranks of confident exporters. This will ensure an increase in export supplies by $ 410.2 million and the receipt of additional tax deductions by 34.5 billion tenge."