TRADE TURNOVER BETWEEN KAZAKHSTAN AND INDIA AMOUNTED TO $2 BILLION IN 2021

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25.02.22

Vice Minister of Trade and Integration of Kazakhstan Kairat Torebayev met with the Ambassador of India to Kazakhstan Shubdarshini Tripathi. The agenda of the XIV meeting of the Kazakh-Indian intergovernmental commission on trade and economic cooperation was discussed, the press service of the Ministry of Trade and Integration of the Republic of Kazakhstan reports.

It is noted that among the countries of Central Asia, Kazakhstan is the main trading partner and exporter to India. In 2020, the share of Kazakhstan in the mutual trade of India with Central Asia amounted to 80.7%, in the export of goods to India - 98.9%. In 2021, mutual trade between Kazakhstan and India amounted to $ 2 billion.According to Kairat Torebayev, Kazakhstan is ready to increase trade turnover for 80 items of products in the amount of 609.5 million dollars. Thus, Kazakhstan has the opportunity to increase the supply of products from the following industries: metallurgical (in the amount of $ 415.7 million), chemical (by $ 76.9 million), food (by $ 63.5 million), construction (by $ 23.6 million), engineering (by $ 22.7 million) and pharmaceutical (by $ 7 million).

During the negotiations, the parties stressed the importance of the upcoming meeting of the Kazakh-Indian Intergovernmental Commission (IGC) on trade, economic, scientific, technical, industrial and cultural cooperation. The main issues planned for discussion within the framework of the upcoming (IGC) are in the field of peaceful use of nuclear energy, industry, trade and investment, and transport. In addition, within the framework of the upcoming (IGC), the conclusion of three documents on technical regulation issues is being worked out.

The parties noted that the main constraint on bilateral trade between Kazakhstan and India is transport communication. The Kazakh side offered to invest in joint projects on the territory of the Khorgos International Center for Border Cooperation and cross-border trade and economic hubs.

https://kapital.kz/economic/103296/tovarooborot-mezhdu-rk-i-indiyey-sostavil-2-mlrd-v-2021-godu.html