Trade turnover between Kazakhstan and Canada rose to $ 3 billion

16:43, 24 October 2013

CALGARY. October 24. KAZINFORM Trade turnover between Kazakhstan and Canada has reached $3 billion, Kazakh Minister of Oil and Gas Uzakbai Karabalin said in his speech at the opening of the Kazakh-Canadian business forum in the Canadian city of Calgary called the oil capital of the country.

"Over the past five years, the trade turnover between the two countries has increased fourfold and reached $3 billion," Karabalin said speaking before the business community of the two countries.

According to him, currently about 100 joint companies with authorized capital of over $ 60 million are registered in Kazakhstan.

"Today, as is known, Canada is in the top 20 countries with a strong economy, and Kazakhstan is in the top five fastest growing countries," Kazakh Minister said.

He spoke about the current development of the Kazakh oil and gas sector, noting such three major oil and gas projects as Kashagan, Tengiz and Karachaganak.

"Today, within the Eurasia project we are going to start exploration in the Caspian Basin, where giant fields may be located, and it will double the resource potential of Kazakhstan," Karabalin said.

According to the Minister, new opportunities open up in Kazakhstan for Canadian companies, Kazinform refers to trend.az.

Ambassador of Kazakhstan to Canada Konstantin Zhigalov in his speech at the forum added that since Kazakhstan became independent Canadian investment in the Kazakh economy totalled $6 billion.

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