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Kazakhstan investment prospects discussed in Brussels

10 October 2019 14:17

BRUSSELS. KAZINFORM - The Walloon Export Promotion and Foreign Investment Agency together with the Flemish Investment and Trade Agency has organized a round table «Kazakhstan - Belgium: Prospects for Trade and Economic Investment Cooperation», Kazinform correspondent reports.

The event aimed to inform the Belgian business community about the business climate of our country was attended by Kazakhstani diplomats and heads of nine companies from Belgium.

Among others, the meeting was attended by leaders of Orfit - a leader in the design and manufacture of equipment for immobilization of patients in radiation oncology, and Picanol which produces high-tech textile machines.

Chantal De Bleu, Director General of the Foreign Trade Department of the Walloon Agency for Export Promotion and Attraction of Foreign Investments, noted that the Central Asian area was less popular among the Belgian business community. Nevertheless, she sees «great prospects for bilateral cooperation.»

«According to our database, Kazakhstan is ranked 83rd in Belgium's export ranking. But we should not forget that Kazakhstan is a member of the Eurasian Economic Union», said Chantal De Bleu.

«Our enhanced cooperation will definitely be the gateway to the Eurasian Economic Union which market has more than 180 million consumers», she added.

In turn, Yermek Kosherbayev Deputy Minister of Foreign Affairs of Kazakhstan and Aigul Kuspan Ambassador to Belgium spoke about the main economic indicators of our country and favorable conditions for doing business.

At present Kazakhstan has 74 companies with Belgian capital. Kazakhstan is interested in expanding Kazakh-Belgian cooperation in industry, agriculture and high technology.

Carmeuse, a Belgian company, plans to build a USD55 million high-quality lime plant in Karaganda region. It is expected that the plant will produce 300 thousand tons of lime per year. It should be noted that the company will create 105 jobs.

Representatives of John Cockerill, Hamon Thermal Europe, D-Tek, Orfit, Picanol and Manure Colli also spoke at the event.

Kazakhstan's foreign trade turnover with Belgium increased by 58% in 2018 compared with 2017 and amounted to USD455 million.

Note that Belgium is one of the world leaders in high technology, pharmaceuticals and clean energy.