Nazarbayev found similarities in economies of Kazakhstan and Estonia

Kazakhstan President Nursultan Nazarbayev met with Prime-Minister of Estonia Andrus Ansip, Tengrinews.kz reports citing the press-service of Nursultan Nazarbayev. During the meeting the President stressed that last year’s economic growth in both countries exceeded 7 percent and invited Estonian companies to cooperate with Kazakhstan businesses. “We are currently holding a Kazakhstan-Estonian business forum. From my part I fully support all the initiative aimed at enhancement of cooperation between our countries. We are actively implementing an industrial-innovative program to stimulate industries, building plants and factories and implementing high technologies from Western countries. Thanks to the dynamic development of its economy and good macroeconomic performance, Kazakhstan is able to invest money into different projects abroad,” the press-service cites Nazarbayev as saying. According to akorda.kz, 54 companies with Estonian participation have been registered in Kazakhstan. These companies specialize in export-import operations, intermediary services, production of furniture, food, construction and architecture. The gross inflow of investments from Estonia to Kazakhstan made $45.7 million from 2001 to the beginning of 2012, and $28.9 million in Q1 of 2012. The commodities turnover between the two countries made $63 million in 2011. The trade turnover made $13.2 million in January-June 2012. This year Kazakhstan and Estonia are celebrating the 20th anniversary of establishment of their diplomatic relations.