In spite of a massive depreciation of the Kazakh tenge, further measure need to be taken to help the domestic manufacturers in Kazakhstan.
National Champions are expected to develop Kazakhstan's industry and considerably increase non-commodity exports by 2018.
National Bank of Kazakhstan released data on Kazakh tenge real exchange rate against the currencies of Kazakhstan's major trade partners.
Kazakh tenge's depreciation has not helped the Kazakhtani producers to increase their export revenues, experts say.
Governor of the National Bank of Kazakhstan Kairat Kelimbetov sees the current tenge exchange rate as adequate under the circumstances.
According to Nursultan Nazarbayev, Kazakhstan and Russia have a big advantage when it comes to food security.
The President of Kazakhstan Nursultan Nazarbayev and Almazbek Atambayev, President of Kyrgyzstan, have opened the customs border between the two countries.
According to EBRD President Sir Suma Chakrabarti, food in Kazakhstan is very delicious and the best wheat in the world grows in this Central Asian country.
Saudi Arabia has expressed interest in importing grain from Kazakhstan.
Kazakhstani political scientist Dosym Satpayev points to the sanctions against Russia and the ruble trouble as having effect on exports and domestic production in Kazakhstan.
The biggest importer of Kazakh grain for the 2013-2014 year was Iran with its 1 255 000 tons of grain, followed by Uzbekistan with its 885 400 tons, Azerbaijan (815 600 tons), Russia (658 600 tons).
In the wake of dropping oil prices, the crude export duty rate in Kazakhstan, according to Halyk Finance analytics, could be reduced by half.
The Minister of Agriculture of Kazakhstan has proposed to abandon subsidization of grain exports in favour of other developments in agriculture.
Starting from April 1, 2014 the crude export duty rate was raised from $60 to $80 per ton of crude.
Cheap gas from Russia can put a stop to the work of Kazakhstan’s oil refineries.
Kazakhstan has introduced a half-year ban on export of fuel outside the territory of the Customs Union.
Despite the drop in oil prices, Kazakhstan’s National Fund continues to grow.
For the first 9 months of 2014 the bilateral trade turnover figure made up $4.7 billion, with major Kazakhstan’s exports being oil, metals and chemicals.
Kazakhstan is looking for alternative markets for its coal as Russia is seeking to replace Kazakhstan’s coal with coal mined at Russia’s Kuzbass.
According to him, Kazakhstan’s gas can only be supplied to third countries across Russia; and within the agreements currently in place, access to Russia’s gas transportation system can only be provided to meet energy needs of the Eurasian Economic Union member states.
- exchange rate
- National Bank
- Central Bank
- Nursultan Nazarbayev
- Eurasian union
- Customs Union
- Central Asia
- Foreign Investors Council
- Saudi Arabia
- Ministry of Internal Affairs
- Samruk Kazyna