01.07.2024, 19:48 7081

EAEU is creating conditions for the development of a common agricultural market

Today the EAEU countries are working on the ratification of the Agreement on Warehouse Certificates for Agricultural Products, press service of the Ministry of Trade and Integration reports.

In Kazakhstan, this document is under consideration by the Majilis of the Parliament of Kazakhstan.

The agreement creates conditions for agricultural producers from Kazakhstan to obtain a loan secured by a warehouse certificate in the EAEU countries, as well as through the realisation of warehouse certificates to sell their products remotely.

Kazakhstani businesses will also have access to information on the existing warehousing infrastructure in the EAEU countries, including information on the name, type, capacity, storage volume and location of the warehouse.

It is important to note that de facto, of all EAEU member states, only Kazakhstan (grain receipts) has such circulation of warehouse certificates.

Thus, in Kazakhstan, a clear system of guaranteeing the fulfilment of obligations under issued warehouse certificates for agricultural products - grain receipts for grain - has been established at the legislative level, taking into account the long-term experience of circulation of warehouse certificates for agricultural products.

Accordingly, today the Kazakh side proposes the EAEU countries to take as a basis the experience of Kazakhstan in this area when developing requirements for the system of ensuring the fulfilment of obligations under warehouse certificates for agricultural products.

This measure will ensure mutual recognition and sustainable circulation of warehouse certificates within the EAEU, as well as the availability of financial resources for their holders.

It should be recalled that the provisions of the Agreement will be in force from 1 January 2026. Until then, the EAEU countries need to adopt the necessary national legal acts and develop the practice of circulation of warehouse certificates.

In general, the implementation of the Agreement will promote the promotion of Kazakh products to the markets of the EAEU partner countries, therefore, will have a positive impact on the development of agriculture in Kazakhstan.
 

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01.07.2024, 21:36 6506

Kazakhstan's inflation continues to decline

Kazakhstan's inflation continues to decline
Inflation in Kazakhstan declined over the year, reaching 8.4 percent in June 2024 (from 8.5 percent in May 2024), Trend reports.

According to data from the country's Bureau of National Statistics, prices for food products climbed by 5.4 percent (5.5 percent in May 2024), for non-food products by 7.4 percent (7.6 percent in May 2024), and for paid services by 13.8 percent (13.9 percent in May 2024).

Among the regions, the highest yearly inflation was registered in the Karaganda region at 10.8 percent, in the Mangystau region at 10.3 percent, and in Astana city at 10.1 percent.

Inflation on a monthly basis did not change compared to May 2024 and amounted to 0.4 percent.

Furthermore, inflation in Kazakhstan slowed down over the year and amounted to 9.8 percent in December 2023 (in November, 10.3 percent).

Prices for food products over the year increased by 8.5 percent (in November 2023, 9.2 percent), for non-food products, by 9.1 percent (in November 2023, 9.9 percent), and for paid services, by 12.4 percent (in November 2023, 12 percent).

The monthly rate of inflation was 0.8 percent (prior month: 1 percent), a slight decline.
 

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01.07.2024, 11:43 7181

Production of thermal insulation materials in Kazakhstan increased by 58.5%

In January-May 2024, the production of thermal insulation materials increased by 58.5% in physical terms compared to the same period last year. If 26,808 tons of thermal insulation materials were produced in the five months of 2023, then this year - 42,482 tons, press service of the Ministry of Industry and Construction reports.

The increase in production was due to the Akmola and Aktobe regions.

The main manufacturers of thermal insulation materials in the country are the companies PTK Izoterm (East Kazakhstan region), Makinsky Thermal Insulation Plant (Akmola region) and KazTermoGroup (Aktobe region), etc.

Dynamics of the volume of production of thermal insulation materials

 

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24.06.2024, 18:03 27996

Social food prices decline for the fourth week in a row in Kazakhstan

Social food prices decline for the fourth week in a row in Kazakhstan
The situation with prices for socially important food products for a week was discussed on Saturday, 22 June, at a meeting in the Government chaired by Deputy Prime Minister Serik Zhumangarin, press service of the Ministry of Trade and Integration reports.

The downward trend in prices for a group of 10 goods continues: buckwheat groats - 0.9%, sunflower oil - 0.5%, cabbage - 0.4%, beef, salt and sugar - 0.3%, rice - 0.2%, cones, cottage cheese and flour - 0.1%. As noted by First Vice Minister of Trade and Integration Aizhan Bizhanova, prices decreased in 8 regions, of which the most significant - in Ұlytau (0.8%), Aktobe (0.6%) and Atyrau (0.5%). In general, during the week, the decrease in the average price index for social food products was 0.1 per cent. This indicator is fixed for the fourth week in a row. For the month, the dynamics amounted to 0.3%.

Vice-Minister of Agriculture Yerbol Taszhurekov announced the progress of contracting of early harvest in the regions. Three megacities - Astana, Almaty, Shymkent - have already started to conclude direct contracts with agricultural producers from seven regions of the country to supply vegetables at stable prices in the off-season.

Astana has already concluded forward contracts for 15 thousand tonnes of vegetables: potatoes, onions, cabbage, carrots. Shymkent - for 7.5 thousand tonnes, Almaty - for 16 thousand tonnes. Deliveries are planned for June-July, September-April. Additional forward contracts will also be concluded for the supply of autumn harvest", - informed the Vice-Minister.


Yerbol Taszhurekov also noted that the regions need to comply with the terms and conditions of financing outlined in the rules for the implementation of mechanisms to stabilise prices of socially important food products, including the requirement to allocate 70% of funding to agricultural producers and processing enterprises.
 

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21.06.2024, 11:22 42331

Kazakhstan’s wholesale trade hit KZT 15 trillion in Jan-May

For the past five months Kazakhstan’s wholesale trade exceeded 15 trillion tenge with three-fourths provided by small businesses, Kazinform News Agency cites finprom.kz.

The country’s wholesale trade reached 15.1 trillion tenge that is 5.4% more compared to the same period of the previous year. The wholesale trade share of total domestic trade reduced slightly from 70.1% to 68.8% per annum. Three-fourths of the wholesale trade falls on small businesses, 19.9% more on medium businesses, and only 4.9% account for trading companies.

Almaty, Atyrau regions and Astana reported significant volumes of wholesale trade with 5.8 trillion tenge, 2.4 trillion tenge, and 2.3 trillion tenge, respectively. Karaganda region also saw this year considerable amount of wholesale trade with 932 billion tenge that is 24.1% more against last January-May.

Generally, non-food goods and capital goods constitute a considerable share of the wholesale trade structure accounting for 12 trillion tenge. Food products wholesale trade grew by 26.2% per annum.

Wholesale trade made 3.3 trillion tenge in May which is 5.3% more compared to the last May.
 

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20.06.2024, 13:58 45906

Kazakhstan, China expand road transportations

Kazakhstan, China expand road transportations
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The Senate of the Kazakh Parliament has ratified the Agreement between the governments of Kazakhstan and China on international road transportations, Kazinform News Agency reports.

 "China is one of the key trade partners of Kazakhstan," senator Andrey Lukin said presenting the document.

In recent years, we have observed a stable tendency of growth of road transportations between the two countries. In 2023, the volume of goods transported by road made 1.8 million tons, which is two times higher against 2022 (708,000 tons)," the senator said.


Given the significant dynamics of development of the bilateral relations, the governments of Kazakhstan and China entered into the agreement on international road transportations in May 2023, in Xi’an, as part of the Kazakh President’s visit to China.

According to Lukin, the document aims at creating favorable conditions for road transportations between the two countries.

The agreement regulates passenger and cargo transportations, requirements to drivers, as well as issues related to insurance, taxation and control at checkpoints.

The Agreement also regulates the norms of implementation of IT and improvement of the conditions for transportations, providing for the possibility of the passage of the carriers deep into the territories of Kazakhstan and China. Domestic carriers will be able to reach major cargo-generating cities and international seaports of China," Andrey Lukin said.


At the same time, under the Agreement, the bilateral and transit transportation of goods and transportations to third countries will be carried out on a quota-based permit system.

This will let regulate equal participation of the two countries’ carriers in road transportations.

According to the senator, Chinese carriers will be able to transport cargo through the territory of Kazakhstan to the countries of Europe and Asia, which, in turn, will increase Kazakhstan's transit potential.
 

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19.06.2024, 12:11 48406

Heat and power plants generate 66% of electricity in Kazakhstan

In January-April 2024, Kazakhstan produced 418.2 billion kWh of electricity, which is 3.7% more than in 2023, Kazinform News Agency reports citing energyprom.kz.

The largest volume of electricity is traditionally produced in Pavlodar region - 177.7 billion kWh.

Then come Karaganda region (44.6 billion kWh), Atyrau region (27.9 billion kWh), East Kazakhstan region (24.2 billion kWh), and Mangistau region (17.6 billion kWh).

Zhetysu region produces the least volume of electricity - only 2 billion kWh.

Central heating and power plants generate 66.2% of electricity in Kazakhstan. In four months of 2024, the country produced a total of 276.8 billion kWh of electricity.

38.6 billion kWh were produced by condensation power plants, 30.4 billion kWh - by hydroelectric power stations, 28.8 billion kWH - by gas-turbine plants, 23.4 billion kWh - by thermal power stations, 14.2 bilion kWh - by wind power stations, 4.9 billion kWh -by solar power stations, and 5.7 million kWh was produced by biogas plants.

According to the Ministry of Energy, in January-March 2024, electricity generation by renewable energy sources amounted to 1.8 billion kWh, which is 18.9% more than in the same period in 2023.

At the same time, the share of electricity generated by RES facilities in the total generation volume made 5.4% against 4.8% a year earlier.

Wind power plants traditionally generated the biggest volume of electricity: 1.3 billion kWh, that is 25.2% more than a year before. Then stand solar power stations (330.7 million kWh), small hydro-electric power stations (170.6 million kWh) and biofuel power plants (150 thousand kWh).

According to Our World in Data, in 2023 the world produced 10.5 thousand terawatt-hours (TWh) of electricity from coal, 6.6 thousand TWh of electricity from gas, 4.2 thousand TWh electricity from hydroelectric power plants, 2.7 thousand TWh of nuclear electricity, 2.3 thousand TWh of wind electricity, 1.6 thousand TWh of solar energy, 788.6 TWh of electricity from oil and 678.7 TWh of electricity from bioenergy.

At the same time, Our World in Data experts say that 76.8 TWh of electricity in Kazakhstan was produced from coal. 23.7 TWh was produced from gas, 9.2 TWh - from hydroelectric power stations, and 2.5TWh - from wind, 1.7 TWh - from solar energy, and 0.06 TWh - from oil.
 

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18.06.2024, 21:17 48776

Kazakhstan to sell Mobile Telecom-Service to Qatar's Power International Holding for $1bln

Qatar’s Power International Holding will purchase Kazakhstan’s Mobile Telecom-Service company for $1 billion, Kazinform News Agency quotes Minister of Digital Development Zhaslan Madiyev as saying at the Government’s weekly briefing today.

Minister Madiyev said that the arrival of the new investors is a very important initiative. It means “new investments, expansion of investor base by means of attraction of a new name, raising private mobile providers' competitiveness at the market. The deal amounts to around $1 billion, he noted.

In his words, Power International Holding will invest some 300 billion tenge in infrastructure, such as construction of base stations and installation of 5G stations.

“We believe this will enhance competition, and competition will result in improvement of quality,” said Zhaslan Madiyev.
 

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18.06.2024, 13:37 48001

Industrial production in Kazakhstan reaches 19.4 trillion tenge in early 2024

Industrial production in Kazakhstan reaches 19.4 trillion tenge in early 2024
In the first five months of 2024, Kazakhstan's industrial sector grew significantly, hitting 19,406.7 billion tenge in total industrial production. Significant contributions from the mining and industrial industries propelled this rise, Kazinform News Agency correspondent reports citing Bureau of National Statistics.

45.9% of all industrial production, or 8,901.5 billion tenge, came from the mining sector. Of the total, the manufacturing sector accounted for 8,950.2 billion tenge, somewhat more than the mining industry. In comparison to the same period previous year, the mining and quarrying industry's Industrial Production Index (IPI) was 100.6%. This growth was driven by increases in the extraction of natural gas by 3.8%, metallic ore by 6.5%, and mining industry services by 10.6%.

A positive IPI of 105.2% was recorded in the manufacturing sector year over year, indicating growth in a number of sub-sectors: manufacturing climbed by 5.8% in the chemical industry, 13.5% in the manufacturing of basic medicinal items and preparations, and 7.5% in metallurgy. Excluding machinery and equipment, finished metal products increased by 28.4%, machinery manufacture increased by 14.7%, and other finished goods output nearly doubled, growing by 90%.

The production, transmission, and distribution of electricity increased by 7.2%, while the production and pipeline-based distribution of gaseous fuels increased by 7%, contributing to the energy sector's IPI of 106.1%. However, with an IPI of 99.8%, the water supply, waste management, and pollution remediation sectors showed a minor dip. The reasons behind this were a reduction of 1.4% in garbage collection, treatment, and disposal and a 0.9% drop in water collection, treatment, and delivery.

In fifteen regions of Kazakhstan, industrial production grew on a regional basis. Significant expansion was noted in the Aktobe area and the city of Astana. On the other hand, output decreased in the districts of Atyrau, Zhetysu, and Zhambyl as well as in the cities of Almaty and Shymkent.
 

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