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Kazakhstan and Finland discussed issues of economic and investment cooperation

A meeting of Kazakhstan-Finnish Business and Investment round table was held in the Ministry of Foreign Affairs of the Republic of Kazakhstan as part of the 11th Kazakhstan-Finnish Intergovernmental Commission for Trade and Economic Cooperation.

This very event aims at practical implementing the results of the official visit of the President of the Republic of Kazakhstan Nursultan Nazarbayev to Finland in October, 2018.

The round table was attended by the Deputy Minister of Foreign Affairs of the Republic of Kazakhstan Ermek Kosherbayev, the Minister for Foreign Trade and Development of the Republic of Finland Anna-Mari Virolainen, as well as over 40 representatives of business circles of both countries.

In his opening speech, the Deputy Head of the Ministry of Foreign Affairs Ermek Kosherbayev told about the way the mechanism of attracting investments operates, what investment climate and tax preferences are available for foreign investors in the country.

«The Head of the state pays special attention to attracting investment, for today, all conditions has been created for investors in Kazakhstan, the work on improving the investment climate in the Republic is constantly underway. In December, 2018 the functions on attracting investment were integrated into our Ministry. Today we are establishing the complex ecosystem in the format of “Diplomatic authorities-Center-Region”, - Ermek Kosherbayev said.   

Heads of leading Kazakhstan and Finnish companies: NC KAZAKH INVEST JSC, Export Insurance Company KAZAKHEXPORT JSC, Kaukolinternational, Finnish Water Forum, AINS Group, Nurminen Logistics and others, delivered their presentations to participants of the meeting.

Trade turnover between two countries in 2018 accounted for almost USD247 million. Export from Kazakhstan to Finland last year amounted to about USD115,7 million, the basic export commodities were crude oil, coal, products of the distillation of coal tar, engines and power-plants, lorries, machines for soil works, road and building machinery.

In turn, import from Finland to Kazakhstan in 2018 accounted for USD131, 6 million. Basic imported goods to Kazakhstan are mineral oil, coated and uncoated paper for graphic purposes, medical products and hydrogen peroxid.

The event resulted in signing of the additional Tripartite Agreement annexed to the Memorandum between Kazakhstan Center of Housing and Public Utilities Modernization JSC, RIFSAED Scientific Institute for standard and experimental design (Housing Institute) Ltd and AINS Group.

Finland is one of key partners of Kazakhstan in the region of the Northern Europe and the European Union, the relations between two states is characterized by high dynamics of political dialogue, have great potential for the further expansion of economic and investment interaction.