Kazakhstan approves wholesale liquefied gas price
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The Kazakh Energy Ministry has approved the maximum wholesale price for liquefied petroleum gas (LPG) sold on the domestic market outside commodity exchanges, Qazinform News Agency reports.
According to the order signed by the Energy Minister as of December 15, 2025, the price cap will remain in effect from January 1 to June 30, 2026.
The maximum wholesale price for liquefied petroleum gas supplied to the domestic market of Kazakhstan outside commodity exchanges for the period from January 1 to June 30, 2026, is approved at 59,722 tenge per ton, excluding VAT.
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Kassym-Jomart Tokayev meets with Sberbank CEO German Gref
Images | Akorda
The Kazakh President, Kassym-Jomart Tokayev, today met with the Chairman of the Management Board at Sberbank, German Gref, Qazinform News Agency cites Akorda.
During Thursday’s meeting, Kassym-Jomart Tokayev and German Gref discussed the key challenges in the banking sector development, the impact of the current geopolitical situation on the economies of the region’s countries, as well as prospects for the application of digital solutions and artificial intelligence in the financial sector.
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Kazakhstan and Greece Expand Horizons of Industrial Cooperation
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The Ambassador of Kazakhstan to the Hellenic Republic, Timur Sultangozhin, paid a visit to the Region of Central Macedonia, where he held a series of meetings with business leaders and visited key industrial enterprises across the region, Ministry of Foreign Affairs of the Republic of Kazakhstan reports.
During the visit, the Ambassador was briefed on the operations of companies active in a range of sectors, including elevator manufacturing, paints and coatings, food production, cosmetics, medical equipment, and retail. Particular focus was placed on identifying opportunities to develop partnerships with Kazakh counterparts.
He also held substantive discussions with the leadership of the Thessaloniki Chamber of Commerce and Industry and the Business Association of the Industrial Zone of Thessaloniki on ways to strengthen business ties between Kazakhstan and Greece. The discussions highlighted a number of promising areas for cooperation, including manufacturing, agribusiness, logistics, and investment.
In his meetings, the Ambassador outlined Kazakhstan’s ongoing economic reforms and the range of government support measures available to foreign investors, including tax incentives, investment agreements, and project facilitation tools. Both sides expressed strong interest in expanding business contacts and agreed to support the development of concrete joint projects involving Greek companies in Kazakhstan.
As part of the program, the Ambassador also visited the International Hellenic University, where he met with the university’s leadership. The two sides agreed to advance academic cooperation through partnerships between universities, as well as student and faculty exchanges and joint educational and research initiatives.
Overall, the visit underscored the growing interest of the Greek business community in the Kazakh market and highlighted the strong potential to further expand bilateral trade, economic, and investment cooperation.
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Kazakhstan and Singapore Strengthen Trade and Economic Partnership
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The Ambassador of the Kazakhstan to the Singapore, Askar Kuttykadam, held a meeting with Jasmine Quah Zubair, Director of the Americas, Europe and Central Asia Division at the Ministry of Trade and Industry of Singapore.During the meeting, the parties discussed the current state and prospects of bilateral trade and economic cooperation, and exchanged views on key issues of the global economic agenda, Ministry of Foreign Affairs of the Republic of Kazakhstan reports.
The Ambassador of Kazakhstan informed the Singaporean side about the adoption of the new Constitution of the Republic of Kazakhstan, marking the beginning of a qualitatively new stage in the development of a Just and Progressive Kazakhstan.
It was noted that the establishment of a transparent and sustainable system of public administration, along with other important reforms, contributes to strengthening long-term partnerships between the state and business. The parties also discussed the current state of the global economy, including the fragmentation of global markets, increasing competition for investment, as well as the impact of geopolitical tensions and logistical risks. Ambassador Kuttykadam briefed his counterpart on Kazakhstan’s current economic performance.
It was noted that GDP growth reached 6.5% in 2025, driven by manufacturing, construction, transport, and services. Kazakhstan entered the top 50 largest economies in the world for the first time, reflecting the effectiveness of President Kassym-Jomart Tokayev’s strategy aimed at ensuring sustainable growth and economic diversification. The interlocutors discussed priority areas of bilateral cooperation, including energy, digitalization and artificial intelligence, water technologies, the green economy, as well as critical minerals and innovation. In the context of investment cooperation, the Kazakh side presented the Alatau City multifunctional urban cluster project as a promising platform for Singaporean companies to access the markets of Kazakhstan, Central Asia, and neighboring regions.
The parties also emphasized the importance of the full implementation of the Agreement on Trade in Services and Investment between Kazakhstan and Singapore and expressed their readiness to convene the first meeting of the Joint Committee on its implementation in the near future. During the meeting, the Singaporean side was also informed about Kazakhstan’s key international initiatives with a strong economic dimension, including the Regional Environmental Summit to be held in Astana on 22-24 April 2026 and President Tokayev’s initiative to establish an International Water Organization.
Following the meeting, the parties reaffirmed their mutual interest in further strengthening Kazakhstan-Singapore cooperation and expanding practical engagement across a wide range of areas, including in the context of preparations for upcoming high-level and top-level visits.
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Kazakhstan Outlines Oil Industry Development Priorities at CERAWeek
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As part of the international energy conference CERAWeek, a delegation from Kazakhstan took part in the session "Global Oil Market Outlook: Fundamental Factors and Geopolitical Turbulence", Ministry of Foreign Affairs of the Republic of Kazakhstan reports.
During his remarks, the Minister of Energy of the Kazakhstan Yerlan Akkenzhenov presented the current state of Kazakhstan’s oil industry, emphasizing that the country continues to uphold its position as a reliable supplier of energy resources to the global market.
The Minister outlined the key challenges facing the sector, including energy security issues, in particular the need to ensure the stable operation of the Caspian Pipeline Consortium (CPC), which handles the majority of Kazakhstan’s oil exports. He stressed the importance of maintaining uninterrupted operations along this route, given its critical role in the national economy.
Particular attention was also given to improving the investment climate in the oil and gas sector. The Minister highlighted the implementation of the Enhanced Model Contract, which provides tax incentives and is designed to attract new investments into geological exploration and hydrocarbon production.
Strategic plans for the development of the petrochemical industry were also presented. Kazakhstan intends to double its oil refining capacity, which will not only meet domestic demand but also strengthen the country’s position as a supplier of petroleum products in the Central Asian region.
In addition, on the sidelines of CERAWeek, Minister Akkenzhenov held meetings with U.S. Secretary of Energy Chris Wright and senior executives of major American oil and gas companies.
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Governor of the National Bank of Hungary Highly Commends Kazakhstan’s State Development and Economic Reforms
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A meeting was held between the Ambassador of the Republic of Kazakhstan to Hungary Abzal Saparbekuly and the Governor of the Central Bank of Hungary Mihály Varga. During the discussion the parties reviewed the current state and prospects of Kazakh-Hungarian cooperation. Particular attention was given to economic interaction, including cooperation between central banks, as well as the development of bilateral investment ties, Ministry of Foreign Affairs of the Republic of Kazakhstan reports.
The Ambassador of Kazakhstan noted the steady progress in partnership between the two countries and emphasized interest in expanding cooperation in the banking sector, including the involvement of Hungarian financial institutions in projects in Kazakhstan. The diplomat also informed about the recent referendum in Kazakhstan and its significance for further strengthening the democratic development of the Republic of Kazakhstan.
In turn, the Governor of the Central Bank highly commended the results of the referendum and Kazakhstan’s achievements in democratic development. He also positively noted the current level of cooperation with the National Bank of Kazakhstan and financial regulators in the field of monetary policy, expressing readiness to deepen professional dialogue and exchange best practices aimed at ensuring financial stability and sustainable economic growth.
Following the meeting, both sides confirmed their mutual interest in further developing constructive cooperation and maintaining regular contacts between the relevant institutions of the two countries.
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Trade turnover between Kazakhstan and Russia nears $30 billion
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Russia remains one of Kazakhstan’s key trade and economic partners, Kazakhstan’s Prime Minister Olzhas Bektenov said during a meeting with his Russian counterpart Prime Minister Mikhail Mishustin, Qazinform News Agency reports.
The state visit of the President of Kazakhstan to Russia, which took place in November last year, gave a new impetus to cooperation. We are paying special attention to the upcoming state visit of President of the Russian Federation Vladimir Putin to Kazakhstan. We are preparing and are confident that this visit will contribute to the further deepening and expansion of allied relations between our countries. Russia has traditionally been one of the main trade and economic partners of our country, noted Bektenov.
According to him, trade turnover between the two countries has nearly reached the $30 billion mark, with mutual investment flows continuing to grow.
Over the past 20 years, Russian business investments in Kazakhstan’s economy have exceeded 28 billion US dollars. In turn, Kazakhstani businesses have invested around 9 billion US dollars in the Russian economy over the same period, said the Prime Minister.
In addition, Russian businesses are actively operating in Kazakhstan, with more than 22,000 enterprises involving Russian participation registered - almost one-third of all companies with foreign participation.
This represents a very significant presence of Russian business, and we welcome it. We are ready to consider new areas of cooperation. I am confident that all the necessary conditions exist for this. The Government of Kazakhstan is prepared to make every effort to intensify and enhance our cooperation, added Bektenov.
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