Russia opening up its markets for Kazakhstan

Kazakhstan’s businessmen can rely on Russian Government’s support when opening a JV in the Russian territory, Profinance.kz quoted Mr. Sergei Parshnikov, Head of the S&MBs; Development Department of the Ministry for Industry and Trade for Novosibirsk oblast, as saying. He stressed that the share of Kazakh capital in such a JV shall not exceed 25%. Currently Kazakhstan’s producers supply to Novosibirsk region goods and services worth $50-60 million a year. These are mostly vegetables, fruit, fuel pellets for nuclear power stations. “In Novosibirsk area we hold ongoing trade fairs (…) Kazakhstan’s enterprises can also participate. We finance the events under the federal program of rendering support to businessmen (…) participating businessmen can exhibit their products on a free of charge basis”, Mr. Parshnikov said. Trade turnover between Kazakhstan and Novosibirsk oblast reached $320 million last year. In 2009 the figure stood at $280 million. According to the customs statistics, in 2010 external trade between Kazakhstan and Russia grew by 40%, reaching $17.5 billion.