Kazakhstan-Lithuania trade turnover increases 2.1fold in 9 months of 2022 - FM
Images | gov.kz
Lithuania is among 10 largest trade partners of Kazakhstan in the EU and 20 largest trade partners in the world, Deputy Prime Minister and Minister of Foreign Affairs of Kazakhstan Mukhtar Tileuberdi said Tuesday during Lithuania’s Minister of Foreign Affairs Gabrielius Landsbergis’ official visit to Astana, Kazinform correspondent reports.
Minister Tileuberdi emphasized that the visit is dated to an important historic milestone - 30 years since the establishment of diplomatic relations between Kazakhstan and Lithuania. All these years, in his words, the countries have enjoyed and sustained a trust-based dialogue at all levels instrumental in strengthening of constructive relations and mutually profitable cooperation in bilateral and multilateral formats.
Relations between Astana and Vilnius develop fully in keeping with the spirit and principles of the Treaty between the Republic of Kazakhstan and the Republic of Lithuania on mutual understanding and cooperation signed on November 7, 1993 in Almaty, said Minister Tileuberdi.
The Kazakh Foreign Minister pointed out that Lithuania was one of the first countries in 2016 to ratify the EU-Kazakhstan Enhanced Partnership and Cooperation Agreement underpinning Kazakhstan’s cooperation with EU member states in 29 areas.
While mentioning that Lithuania is among 10 largest trade partners of Kazakhstan in the EU, Minister Tileuberdi revealed that despite disruptions in traditional logistics chains trade turnover between the two countries has increased 2.1fold reaching $500.4 million in 9 months of 2022. Some 170 Lithuanian companies work in Kazakhstan and dozens companies with the Kazakh capital operate in Lithuania.
In addition, Kazakhstan and Lithuania work jointly in many spheres starting from professional pilots’ training to medical equipment manufacturing.
Foreign Minister Tileuberdi expressed hope that Gabrielius Landsbergis’ visit to Astana will give an additional impulse to strengthening of friendship and partnership between Kazakhstan and Lithuania.
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RES in Kazakhstan: What new projects will be launched by 2027
The Ministry of Energy continues working on development of renewable energy sources in Kazakhstan, Kazinform News Agency reports.
As of late 2024, there were 153 RES facilities in Kazakhstan with a total capacity of 3,032MW, which enabled to supply 6.43% of the total volume of electricity in the country. To date, their number rose to 156 and their capacity is 3,122MW," Vice Minister Sungat Yessimkhanov said at a briefing.
According to him, RES facilities generated 7.581 billion kWh in 2024, of which:
- 4 513 billion kWh were generated by wind power facilities
- 1 889,6 billion kWh - by solar power facilities
- 1 177 billion kWh - by hydropower facilities
- 1.58 billion kWh - by bio-energy facilities
The Vice Minister said that 91 projects with an overall capacity of 2 258MW are under implementation now, which includes:
- 20 wind power stations (1 364.5 MW)
- 9 solar power stations (282.6 MW)
- 58 small hydropower stations (591.81MW)
- 4 bionenergy facilities (19.25MW)
Yessimkhanov then said that with the introduction of renewable energy auctions, more than 260 companies from 14 countries including China, Germany, Turkiye, France, UAE, South Korea and others are involved in RES development in Kazakhstan.
Kazakhstan has proved to be an open and transparent platform for green energy investment," he stressed.
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New bank opens its doors in Kazakhstan
Images | The Kazakh Agency for Regulation and Development of the Financial Market
The Kazakh Agency for Regulation and Development of the Financial Market issued a license for banking operations to BNK Commercial Bank, Kazinform News Agency reports.
The bank is reported to be part of South Korea’s BNK Financial Group Inc., an international financial holding company with assets exceeding $103 billion.
The opening of a foreign bank aligns with the President’s directive to attract reliable international banks to the country and boost competition in the banking sector, as outlined in his annual Address to the Nation in September 2023.
This is the first banking license issued in Kazakhstan since 2010.
BNK Bank focuses on the development of universal digital services, lending to small and medium-sized businesses, and auto financing.
At the time of its transformation, the organization’s assets totaled 25.8 billion tenge, with a loan portfolio of 21.8 billion tenge. By the end of 2024, it ranked 15th among microfinance organizations in terms of asset size.
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Kazakhstan’s e-commerce grows sevenfold over past 5 years
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Deputy Prime Minister - National Economy Minister Serik Zhumangarin described the future of e-commerce in Kazakhstan as promising, Kazinform News Agency reports.
Today’s e-commerce soared to 3.2 trillion tenge, constituting 14.1% of total trade in Kazakhstan against 476 billion tenge recorded in 2020, the Minister said, answering the question of Majilis deputy Markhabat Zhaiymbetov.
The deputy stressed people still prefer offline shopping due to distrust in the internet and fraud fears to online shopping that offers convenience and advantages.
The Minister said 104 marketplaces operate in Kazakhstan currently. Among them are Kaspi.kz, Wildberries, Ozon, Halyk Market and others.
He added active construction of warehouses proves the growing interest in e-commerce. Kazpost is building warehouses up to 85,000 square meters in Almaty and Aktobe cities and Almaty and Turkistan regions.
Wildberries marketplace has eight logistics centers up to 44,000 square meters and is building 271,000 square meters more in Almaty and Astana. Ozon has two distribution centers up to 42,000 square meters in Almaty and Astana and is also building another one for 20,000 square meters in Almaty.
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Kazakhstan and China develop 224 industrial projects worth USD 66.4 bln
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Kazakh PM Olzhas Bektenov chaired a meeting on Kazakhstan-China cooperation to discuss the development of investment projects signed following the talks between Presidents of Kazakhstan and China Kassym-Jomart Tokayev and Xi Jinping, Kazinform News Agency learnt from the Government's press service.
224 industrial projects worth 66.4 billion US dollars are being developed in Kazakhstan involving China’s investors. Some 50,000 jobs will be generated. As stated there, China ranks among the top five largest investors in Kazakhstan’s economy with 26.4 billion US dollars infused in Kazakhstan between 2005 and 2024.
The PM stressed that the recent visit of China’s President to Kazakhstan gave an impetus to cooperation between the two states and highlighted the importance of the Industrial and Innovation Cooperation Forum Central Asia - China held in Astana. 58 commercial agreements worth 24 billion US dollars were signed on the margins of the forum.
He reminded Kassym-Jomart Tokayev set a task to attract no less than 150 billion US dollars in foreign investments by 2029. To this end, cooperation with China, one of the leading economic powers and Kazakhstan’s key investment partner, remains the country’s top priority. The recent visit of President Xi Jinping to Kazakhstan at the invitation of the Head of State once again proved the high level of political and economic cooperation between the two nations.
PM Beketnov stressed the need to speed up activities in Abai, East Kazakhstan and West Kazakhstan regions, establish cooperation with partners and submit certain initiatives.
The meeting focused on the development of new agreements concluded between the regions and Chinese partners at the Central Asia-China Forum.
Almaty region signed seven documents worth over 6 billion US dollars, including projects in the green economy, logistics, agro-industrial complex and the manufacturing sector.
The city of Astana as well as Kyzylorda and Turkistan regions put forward their initiatives in infrastructure, agro-industrial and manufacturing sectors.
Following the meeting the state and local executive bodies were charged to ensure the development of the agreements signed.
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Kazakhstan set to increase oil deliveries to Germany
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Kazakhstan plans to increase oil deliveries to Germany up to 2 million tons, Deputy Chairman of the Management Board Asset Magauov said, Kazinform News Agency reports.
According to him, oil transportation in 2024 reached 83.5 million tons that is 8% or 6 million tons more against the plan or 4% more compared to 2023. 55.7 million tons were shipped via the CPC pipeline in 2024 at large.
He said the volume of oil deliveries to Germany via the Atyrau-Samara route grew by 50% in 2024 that is projected to double in 2025. Besides, Kazakh oil transit towards Aktau-Baku-Ceyhan rose by 27% to 1.4 million tons under the agreements with SOCAR. This year plans to increase oil transit by sea up to 1.7 million tons.
For the past five months, oil transportation hit 34.7 million tons that is 2% or 825,000 tons more against the plan.
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Karachaganak shareholders demanded additional $1B for gas processing plant construction - Ministry of Energy explains
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In response to an official inquiry from the Kazinform News Agency, Kazakhstan’s Ministry of Energy explained why the project for the construction of a gas processing plant (GPP) at the Karachaganak field has not been implemented.
The development of the gas potential of the Karachaganak field and strengthening the country’s commercial gas reserves are of strategic importance. Over the course of two years, extensive negotiations were held on the Karachaganak gas processing plant project. Its planned capacity was 4 billion cubic meters of gas per year. Kazakhstan provided comprehensive support for the project. However, Kazakhstan deemed the terms proposed by the shareholders as economically unacceptable. Among these was the condition that Kazakhstan pays an additional $1 billion on top of covering 100% of the construction costs for the Karachaganak GPP," stated the Ministry’s experts.
The shareholders explained this demand by stating that it would be impossible to recoup the construction costs within 3-4 years, as the production sharing agreement with Kazakhstan expires in 2033.
Apparently, according to the Ministry of Energy, the Karachaganak shareholders tried to use the project as leverage in a dispute that is currently being reviewed by an independent tribunal.
Moreover, the shareholders demanded a complete halt to the ongoing arbitration case currently under review by an independent tribunal. In light of this, negotiations on the Karachaganak gas processing plant project - initiated within the framework of the Final Production Sharing Agreement for the Karachaganak project - have now concluded. Nonetheless, the issue of Karachaganak’s gas potential remains under consideration," the Ministry's official response stated.
Given the strategic importance of gas processing at Karachaganak, Kazakhstan is currently considering the possibility of implementing the project with other partners.
Possible options are being explored to carry out the project with alternative contractors, including the potential implementation of the GPP through the national company KazMunayGas," the Ministry reported.
The fate of the project has not yet been finalized. Negotiations on the potential implementation of the GPP construction at Karachaganak are still ongoing. According to the Ministry, an appropriate decision on the future of the project will be made following the outcome of these talks.
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Olzhas Bektenov Discusses Plans for Electric Vehicle Production in Kazakhstan with Proton Holdings CEO Chunrong Li
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Prime Minister of the Republic of Kazakhstan Olzhas Bektenov held a meeting with Chunrong Li, CEO of the Malaysian company Proton Holdings Berhad. The parties discussed cooperation in the automotive industry, including the prospects for launching a new production facility in Kazakhstan, primeminister.kz reports.
The discussions focused on Proton Holdings' plans to produce electric vehicles in Kazakhstan. The company is a leading player in the Malaysian automotive market. Proton vehicles, including both internal combustion engine models and electric cars, are exported to more than 26 countries. Additionally, the company has its own center for research, development, design, and engineering of transmissions and vehicles.
Olzhas Bektenov emphasized that the President of Kazakhstan has set a strategic goal to develop the machine-building sector by integrating advanced technologies, localizing production, and creating new jobs. Attracting investment and establishing new manufacturing facilities are crucial for diversifying and ensuring the sustainable growth of Kazakhstan’s economy. In the first quarter of this year, the sector attracted 55 billion tenge in investment. In 2024, the volume of investment doubled, reaching 282 billion tenge.
The Government expressed its full readiness to provide comprehensive support for the implementation of the project. Cooperation and knowledge exchange in research and development were also highlighted as promising areas for strengthening the country’s scientific and technological capacity.
Proton Holdings CEO Chunrong Li expressed interest in entering the Kazakh market, citing the attractiveness of the investment environment created in the country.
Following the meeting, both sides reaffirmed their intention to develop mutually beneficial cooperation for the implementation of the project. The Ministry of Industry and Construction was tasked with preparing the corresponding Roadmap.
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