Kazakh-French business forum in Astana06 december 2014, 12:40
French-Kazakh trade relations were on the agenda of yesterday's business forum of the two countries in Astana, Tengrinews reports.
15 commercial agreements worth $530.3 million were signed as part of the Kazakh-French business forum. More than 250 delegates took part in the event: businessmen, representatives of national companies, financial institutions, non-governmental organisations and educational institutions.
The primary areas of cooperation between the two countries at the moment are the oil and gas, mining, aerospace and nuclear industries, transport machine building, banking and agriculture.
Kazakhstan's Vice-Minister for Investment Yerlan Sagadiyev said that trade turnover between Kazakhstan and France reached $5 billion in the first 9 months of this year.
"Over the past years, especially the last three years, France has been among the leading trade partners of Kazakhstan. It is ranked fifth. In the first nine months of this year, trade turnover made about $5 billion. There is every reason to expect a significant increase in the turnover in the future," he said the Kazakh-French business forum in Astana.
In addition, France is one of the leading investors in Kazakhstan, the Vice Minister said. From 2005 to 2014, the volume of investments was worth around 8 billion euro. And Sagadiyev assured that this number would grow as well.
“Today, more than 100 big French companies work in Kazakhstan in oil, nuclear, food, construction and transport industries, as well as in the service sector. The business has noticeably intensified, French entrepreneurs began to participate in joint projects more, started to invest, opening up new prospects,” he said.
He added that Kazakhstani companies had the potential to enter the French market. Sagadiyev said Kazakhstan was planning to start producing space satellites, fuel for nuclear reactors and solar panels.
French President Francois Hollande met President Nursultan Nazarbayev in Astana the same day.
Reporting by Altynai Zhumzhumina, writing by Dinara Urazova