Kazakhstan’s wheat exports to China to hit 2 mln tons

05.07.2024, 15:44 15726

EBRD to double its investment in Kazakhstan economy

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Deputy Prime Minister - Minister of National Economy Nurlan Baibazarov had a meeting with Hüseyin Özhan, Acting Managing Director of the European Bank for Reconstruction and Development for Central Asia and Mongolia. The sides discussed the state of the current projects and EBRD’s plans on financing new ones, having noted an important role of investment attracted to ensure sustainable socio-economic development of the country, Kazinform News Agency reports citing the press service of the Kazakh Government.

Hüseyin Özhan said the EBRD planned to double its investment in Kazakhstan in 2024. Together with KEGOC (Kazakhstan Electricity Grip Operating Company), the EBRD is working on a large project which can help ensure power supply reliability in the country’s west.

Previously, the sides agreed on implementation of the largest territorial project - construction of new sewage treatment facilities in the city of Aktobe. Funds were allocated to enhance the capacities of the country’s leading salt producer - JSC Araltuz, as well as to support women and youth entrepreneurship. In June 2024, a new passenger terminal started operating at the Almaty Airport. Its construction was also financed by the EBRD. The EBRD even acquiared a minority stake of 5% of Kazakhstan’s flagship carrier Air Astana.

According to Nurlan Baibazarov, Kazakhstan intends to expand cooperation with the EBRD both at the country and regional levels and supports the EBRD’s aspiration to invest in private sector.

Our country is ready for mutually beneficial work with the EBRD to attract investment for the implementation of energy, transport-logistics, RES and private business projects," the Vice Prime Minister noted.

EBRD has channelled €10.2 billion of investments in 324 projects in Kazakhstan to date. Currently, the EBRD’s portfolio in Kazakhstan includes 121 projects worth €2.9 billion.

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04.07.2024, 12:47 16886

Kazakhstan keen on revamping trade and transportation routes in South Caucasus - official

Kazakhstan is interested in the restoration of trade and transportation routes in the South Caucasus, the Executive Director of the Department of the Institute of Parliamentarism at the Office of the President of the Republic of Kazakhstan Zhanar Tulindinova told reporters on the sidelines of the meeting of the Council of Heads of the Shanghai Cooperation Organization (SCO) member states in Astana, Trend reports.

At the moment, there is an intensification of cooperation between Kazakhstan and Azerbaijan. As such, it is significant to mention the recent visit of our president, Kassym-Jomart Tokayev, to Azerbaijan during the spring of this year.

Kazakhstan expressed interest in holding peace negotiations rounds between Azerbaijan and Armenia. We are very interested in the restoration of trade and transportation routes in the South Caucasus. This is seen as part of the Trans-Caspian international transportation route," she emphasized.

Tulindinova noted that Kazakhstan is interested in the intensification of freight traffic through the Trans-Caspian International Transport Route (TITR or Middle Corridor).

Because it is well-known that conventional routes have been obstructed as a result of numerous sanctions clashes. The significance of increasing freight deliveries along this route is recognized by all countries in the region. Significant endeavors are being made by Kazakhstan in this regard. Establishing a cooperative system of key ports and logistics hubs is a commendable endeavor," she added.

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03.07.2024, 15:18 17076

Cargo volumes between Kazakhstan and China reach over 25 mln tons

According to the Head of State Kassym-Jomart Tokayev, freight volumes along the railway between Kazakhstan and China increased by 22% and reached 28 million tons following results of 2023, Kazinform News Agency conveys.

Tokayev pointed out the significance of the effective realization of large-scale energy projects. As an illustration, Kazakhstan is currently engaged in the construction of petrochemical plants, the modernization of the Shymkent Oil Refinery and the expansion of the Kazakhstan-China oil pipeline.

The projects will soon begin contributing to our economy. As part of the visit, a meeting of the Kazakhstan-China Business Council was held. We signed a number of investment agreements. These commercial agreements pave the way for stronger economic ties. We also drew attention to the need to intensify integration in the transport and logistics sector. In particular, we discussed potential collaboration within the context of China’s Belt and Road Initiative (BRI), and the Trans-Caspian International Transport Route (TITR)," Tokayev noted.

The President further highlighted that the transport and logistics potential of the two countries has grown significantly as a result of the implementation of joint projects in Lianyungang, namely the SEZ "Khorgos - Eastern Gate" and the establishment of dry ports in Xi'an.

Furthermore, the construction of the third cross-border railway, Ayagoz - Bakhty, is currently underway.

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02.07.2024, 21:35 17801

Kazakhstan will have one of the largest e-commerce distribution centres in Central Asia

At the meeting of the Minister of Trade and Integration Arman Shakkaliev with the Chairman of the Board and founder of YTO Express Co. Yu Weijia discussed the construction of one of the largest e-commerce distribution centres in Central Asia. This centre will ensure prompt processing of goods and their delivery to the EU, EAEU and Central Asian countries, press service of the Ministry of Trade and Integration reports.

The introduction of intelligent IT solutions will allow to fully automate logistics processes and provide customs support for deliveries. During the meeting, the parties considered the prospects for mutually beneficial co-operation in e-commerce and related industries.

Arman Shakkaliev noted that the e-commerce market in Kazakhstan is developing rapidly, demonstrating an annual growth rate of more than 20%.

China's e-commerce market is astonishing in terms of volume, where more than 70 per cent of sales are made online. Kazakhstan, with its favourable geographical location, aims to become a key transit zone for international e-commerce. The joint project with Kazpost to establish a distribution centre in Kazakhstan will give a new impetus to the development of cross-border trade", - said the Minister of Trade of Kazakhstan.

Yu Weijia, Chairman of the Board of YTO Express Co. Yu Weijia emphasised that this project is unique in Central Asia and will cover the whole region. To expand global logistics hubs, the company also plans to build 5 more distribution centres in other countries.

Last year we started to actively co-operate with the Almaty Akimat. This is a long-term project that will strengthen mutually beneficial and productive co-operation between the two countries. For the basis of co-operation, we opened 3 bonded warehouses in China: in Shanghai, Nanjing and Wuhan. This project is the only one in Central Asia that will cover the whole region. In addition to this distribution centre, we plan to build 5 more centres in the USA, Brazil, Thailand, Budapest and Dubai", - Yu Weijia said.

The Chinese side intends to implement the project in the short term. Arman Shakkaliev confirmed the readiness of Kazakhstan to continue active work. Following the meeting, the parties agreed to sign a plan of joint action.

This project will be an important step towards strengthening economic ties and developing international online trade in the region.

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02.07.2024, 13:39 20171

Olzhas Bektenov and Head of CITIC Group Xi Guohua discuss joint infrastructure projects implementation rates

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Prime Minister of Kazakhstan Olzhas Bektenov at a meeting with the Chairman of the Board of Directors of CITIC Group Xi Guohua discussed the implementation of joint Kazakhstan-China projects and strengthening cooperation in energy and industry, primeminister.kz reports.

Currently, with the participation of the Chinese company, large infrastructure projects on reconstruction of motorways of national importance are being implemented. In particular, construction and installation works on 24 sections with a total length of 1,131 kilometres are being carried out on the "Taldykorgan - Ust-Kamenogorsk" and "Karaganda - Balkhash" highways.

To date, on the "Taldykorgan - Ust-Kamenogorsk" route the traffic on the lower layer of the pavement has been opened on 748 km out of 768 km, the balance of works on the upper layer of the pavement is 48%; "Karaganda - Balkhash highway" the traffic on the lower layer of the pavement has been opened on all 363 km, the balance of works on the upper layer of the pavement is 49%.

At the same time, taking into account the ambitious goals for further modernisation of road infrastructure, the parties reviewed the progress of the project to increase the capacity of the plant of CASPI BITUM LLP to 750 thousand tonnes per year. Realisation of this project will cover the demand for bitumen at the height of the construction season.

During the discussion, the participants of the meeting emphasised their readiness to develop cooperation in agriculture, clean energy, environmental protection and digital technologies.

For reference: CITIC Group Corporation was founded in 1979. CITIC Group in Kazakhstan implements projects in energy, chemical industry, finance, infrastructure and other areas.

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01.07.2024, 21:36 29581

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, 19:48 30041

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, 11:43 29206

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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Kazakhstan’s wheat exports to China to hit 2 mln tons

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