Kazakhstan-Belarus trade turnover to reach $1 bln

The Kazakhstan delegation was headed by the First Deputy Prime Minister Askar Mamin. His Belarusian counterpart Vasily Matyushevsky headed his country's delegation at the session.

The meeting in Karaganda discussed the development of bilateral cooperation in trade, investment, industrial cooperation, agriculture, science and technology, transport and logistics.

Speaking at the event, Askar Mamin noted the well-established relations between the two countries, including their participation in integration associations in the post-Soviet space, primarily in the Eurasian Economic Union.

Both sides expressed their satisfaction with the growing trade turnover between Kazakhstan and Belarus over the first 7 months of 2017 when it amounted to $313.7 million, a 75.6% increase compared with the same period last year. And, according to Mr. Mamin, this figure should reach $1 billion in 2020.

"Over the past few years we see a stable dynamics of interregional cooperation," said Vasily Matyushevsky adding that 'today more than 100 enterprises with Kazakh participation operate in Belarus. And the Belarusian side is ready to continue to provide all-round support in the implementation of investment projects and encourage mutually beneficial investments.'

The sides also considered the possibility of creating a joint Working Group to develop promising areas of cooperation, implement joint projects in the field of livestock and crop development, as well as land reclamation and irrigation.

In addition, the issues of deliveries of agricultural products from Kazakhstan to Belarus and from Belarus to Kazakhstan were discussed.

In November of this year, it is planned to sign an agreement on the creation of the Kazakhstan-Belarus Business Council between the Foreign Trade Chamber of Kazakhstan and the Chamber of Commerce and Industry of Belarus.

Following the results of the 13th meeting of the 13th session of the Kazakhstan-Belarusian Intergovernmental Commission on Trade and Economic Cooperation, the sides signed a protocol of cooperation.

It is also reported that during his visit to Karaganda region, First Deputy Prime Minister inspected the reconstruction of the Karaganda-Temirtau segment of the Central-South road corridor. The project is implemented within the framework of the "Nurly Zhol" program and is scheduled to be commissioned in 2018.

While in Karaganda region, Mr. Mamin also visited joint Kazakh-Belorusian venture, the "KazBelAZ" plant for the production of mining equipment.