Kazakhstan Chamber of Commerce in the USA

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Archive for the ‘Trade’


Kazakhstan to start refining gold from Iran 0

Posted on March 22, 2016 by KazCham

Colibri Law Firm BI@colibrilaw.com

Last year Kazakhstan’s three gold refineries produced more than 30 tonnes of refined gold, an increase of 15% compared to 2014, according to Meiramgali Tleuzhanov, director of the Tau-Ken Altyn gold refinery.

Tleuzhanov said that a few years ago, Kazakhstan refined its gold abroad, but now the country imports raw materials. By the end of this year, Kazakhstan plans to refine around four tonnes of Iranian and Russian gold.

“This year we will start refining gold from Iran,” Tleuzhanov said, adding that in the past Iranian gold was refined in the United States. “Part of Iranian (gold) companies has decided to cooperate with us.”

There are three gold refineries in Kazakhstan: Tau-Ken Altyn, a precious metals plant owned by the Kazzinc metallurgical complex, and a gold refinery owned by the Kazakhmys Corporation.

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Women Run About 700,000 Kazakh Enterprises 0

Posted on March 20, 2016 by KazCham

Astana times

Atameken Council of Business Women of Kazakhstan Chairperson Lyazzat Ramazanova recently spoke about women’s entrepreneurship in the nation, as well as the possible financing of women’s business projects through various financial institutions, during a Central Communication Service press conference.

“There are several financial channels for development of female entrepreneurship, including the EBRD (European Bank for Reconstruction and Development), the Asian Development Bank and the Damu Fund. To date, the total sum forwarded to support business women in the country is 1.5 billion tenge (US$4.4 million),” she said.

Ramazanova added the majority of business women choose small and medium-sized companies.

“According to official statistics, the population of Kazakhstan today is composed of over 17 million people and more than a half of them (52 percent) are women. Four million women have reached working age and in the previous year, 1,656,493 citizens were registered as small and medium-sized entrepreneurs. Women run 697,355 enterprises and, in general, there are 1.44 million women engaged in business. Therefore, we must help women to establish and develop their businesses,” she said.

The council was founded in July and the positive results of its work were noted.

“The active involvement of women in the sphere of small and medium-sized businesses is needed to improve the economic status of women and to reduce the female unemployment rate, as well as to create a stable middle class society,” said the speaker.

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Kazakhstan joins EAEU Free Trade Agreement 0

Posted on March 15, 2016 by KazCham

Colibri Law Firm BI@colibrilaw.com

Kazakhstan has become the latest member of the Eurasian Economic Union (EAEU), having ratified the agreement between the EAEU member states and Vietnam on Wednesday.

This free trade agreement between Europe and Asia is similar to the North American Free Trade Agreement (NAFTA) and was reached last year on 29 May 2015. However, it has taken until now for the Kazakh government to ratify the agreement. The treaty allows for duty-free trade between the EAEU member countries, Vietnam, and now Kazakhstan.

The Kazakh Economy Ministry had previously outlined its priorities in implementing the trade agreement. Chief among its interests was the exportation of food products, including flour, grain, alcohol, dairy products and beef.

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McDonald’s finally announces foray into Kazakh market 0

Posted on March 07, 2016 by KazCham

Colibri Law Firm BI@colibrilaw.com

McDonald’s will finally open its first restaurant in Kazakhstan, and indeed in the whole of Central Asia, in March 2016. Another 15 will open soon afterwards, in a belated foray into Central Asia’s largest economy.

After more than a decade of deliberation, the American fast-food giant will open an outlet in the Kazakh capital Astana on 8 March 2016 after investing $3.5 million into the franchise project, according to Khamzat Khasbulatov, president of McDonald’s Russia unit, which will support the Kazakh expansion.

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Chinese and Kazakh companies sign memo on complex alloys plant construction 0

Posted on March 02, 2016 by KazCham

Colibri Law Firm BI@colibrilaw.com

The Chinese company Sinosteel and Kazakhstan’s Karaganda complex alloys plant have signed a memorandum of joint project implementation within the Kazakh Saryarka special economic zone.

According to the statement, a meeting was held between the region’s business community and Chinese representatives. The round table discussion covered the issues involved in the construction of the Karaganda complex alloys plant. The event was organised as part of Kazakh-Chinese cooperation in the fields of industrialisation and investment.

According to the Mayor of the Karaganda region, Nurmukhambet Abdibekov, the project’s implementation will attract investments totalling 82.5 billion tenge. Abdibekov clarified that the manufactured products will be used in the steel industry, as well as during drilling and blasting.

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Alstom increases its stake in Kazakh joint venture 0

Posted on February 29, 2016 by KazCham

Colibri Law Firm BI@colibrilaw.com

Alstom has completed a deal to double its stake in its Kazakhstan joint venture, EKZ. The French company now has a 50% stake in the JV, which was set up to manufacture electric locomotives for Kazakhstan, and will be given an extra seat on the EKZ board of directors.

The Kazakh national rail provider Kazakhstan Temir Zholy and locomotives and rail manufacturer Transmashholding each retain a 25% stake.

Alstom and EKZ have also signed an agreement to produce the locomotives’ on-board transformers at EKZ’s facility in Astana.

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Kazakhstan 2016 Investor Guide 0

Posted on February 28, 2016 by KazCham

Embassy of Kazakhstan in the USA

Kazakhstan’s Ministry of Investment & Development has published a 2016 Investor’s Guide.

Investors will find actionable information about investment incentives, favorable tax regimes, special economic zones, priority sectors and available government resources. The guide serves as a useful market entry resource for companies looking at or new to doing business in Kazakhstan.

The 2016 Investor’s Guide is available on invest.gov.kz.

 

 

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First test train China-Kazakhstan-Turkmenistan-Iran launched 0

Posted on February 26, 2016 by KazCham

Trend

The first similar container train launched on the China-Kazakhstan-Turkmenistan-Iran railway route proceeded from Turkmenistan to Iran, RIA Novosti reported Feb. 11.

The test journey is conducted for adjusting the regular transportation on this new railway route.

The train loaded with various goods left from the Chinese city of Yeiu at the end of January, passed the distance of 7,908 kilometers, crossed the territory of Kazakhstan and reached the Turkmen railway station of Serkhetyak (Border).

The Turkmen site of the new transnational railway route lies from Serkhetyak station to Serakhs on the Turkmen-Iranian border. This part is equal to 1,156 kilometers. As experts consider, the train will reach its terminal station in Iran’s capital – Tehran.

The total length of China-Kazakhstan-Turkmenistan-Iran route is about 10,000 kilometers, and the journey time is about two weeks.

The creation of such transport and transit corridor became possible after the construction of the Kazakhstan-Turkmenistan-Iran international railway route. The road was opened in December 2014 with the participation of Turkmenistan’s President Gurbanguly Berdimuhamedov, Kazakhstan’s President Nursultan Nazarbayev and Iran’s president Hassan Rouhani.

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Kazakhstan to commission new ferry terminal 0

Posted on February 16, 2016 by KazCham

Colibri Law Firm BI@colibrilaw.com

A new ferry terminal will be commissioned in Kazakhstan in the port of Kuryk on the Caspian Sea in 2016.

It is expected that the construction of the ferry complex will triple Kazakhstan’s existing capacity for the transhipment of ferry cargo and strengthen the Kazakh section of the international China-Europe transport corridor.

Currently, cargo transportation by ferry from Kazakhstan to the ports of the Caspian littoral states is only possible through the port of Aktau, where the ferry terminal has been working at full capacity in recent years.

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497 DAYS TILL BEGINNING OF THE ASTANA EXPO 2017 0

Posted on February 15, 2016 by KazCham

Ottawa Life

Nursultan Nazarbayev President of the Republic of Kazakhstan is inviting the world to attend Expo 2017 in Astana, one of the world’s most modern and green cities.

The Expo 2017 global gathering will showcase developments from around the world in the field of green, renewable and sustainable energy. Expo 2017 will place Astana, Kazakhstan in the international spotlight for three months from June 10 to September 20, 2017. During the world-class event, Kazakhstan will host delegations from over 100 countries, and will showcase cutting-edge green energy and sustainability technologies that could provide solutions to energy issues around the world. It will draw three to five million visitors, which would make it the largest international gathering of its kind for both Kazakhstan and Central Asia.

Kazakhstan is a major producer of non-renewable energy sources, but it has been using the profits from these successful ventures to transition to a “green” economy. Expo 2017 is expected to increase foreign investment, international trade and tourism in the country and raise its international profile, making it one of the most influential states in Central Asia.

Roman Vassilenko, Chairman of the Committee for International Information, said that a key part of Expo 2017 is the Future Energy Forum.

“Future energy is one of the most universal discussions of our time, which is why we have chosen it as the central theme for Expo 2017.” The Future Energy Forum will attract the world’s leading experts in green energy, renewables, green technologies and science-related matters. Organizers hope the Future Energy Forum will be the nexus to establish cooperation between international governments, social and business structures and academic communities, including universities, academic institutes, research centers, public foundations and NGOs.

Read more on Ottawa Life

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