B2B: "live" meetings and new contracts

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20 Spanish companies plan to open a joint business in Kazakhstan

Within the framework of the official visit of Acting Minister of Foreign Affairs of the Kingdom of Spain HM Garcia-Margalit was organized a business forum in Astana with participation of Spanish and Kazakh entrepreneurs

The organizers of the event are the Embassy of Spain in the Republic of Kazakhstan and the Chamber of Commerce of Kazakhstan. The forum was attended by representatives of financial institutions JSC "NMH Baiterek", NCE RK "Atameken".

During the plenary session an agreement was signed between the Chamber of Commerce of Kazakhstan and the Chamber of Commerce of Spain on the establishment of the Kazakh-Spanish Business Council. Ruslan Sultanov, Acting chairman of the Chamber of Commerce of Kazakhstan, noted the special role of Spanish investments in Kazakhstan, particularly in non-oil sector: "I am glad that such a representative forum is attended by powerful international concerns, for example, Airbus, Talgo. For us, cooperation with such brands is not only the flow of investment, technology transfer and it motivates continuous improvement of our production".

"According to the survey, the gross inflow of direct investment over 2005-2015, from Spain to the Republic of Kazakhstan amounted to 183.5 million US dollars, and from the Republic of Kazakhstan to Spain amounted to 14.4 million US dollars. Trade turnover between the two countries in 2015 amounted to 1 billion 439 million US dollars. This figure compared to 2014 is by 47.5%. Imports from Spain to Kazakhstan amounted to 219.9 million US dollars, while exports amounted to 1.2 billion US dollars. It should be noted that 88.9% of Kazakhstan's export to Spain accounts for oil, and the structure of imports from Spain: 16.3% electric machines and equipment (motors and generators), 9.2% pharmaceutical products, 4.4% railway rolling stock", - said Deputy Chairman of the Board of NCE RK" Atameken" Nurzhan Altaev.

As part of the Spanish business delegation - more than 20 companies are interested in investment, technology transfer and cooperation in the framework of public-private partnerships, in such sectors as construction, renewable energy, transport, infrastructure facilities, telecommunications, agriculture and others.

It is worth noting that the business arena was visited by such companies as Técnicas Reunidas S.A., INDRA, ACS, Airbus, included in the list of the 35 largest Spanish companies on the Spanish stock exchange IBEX 35.

90 companies, specializing in the fields of agriculture, construction, architecture, oil and gas, energy, aviation and military technology, as well as the transport industry represented the Kazakh side. During the bilateral meetings in the B2B format entrepreneurs, Kazakhstan and Spain presented their own projects, they discussed a wide range of questions about the prospects of cooperation and expressed their intention to develop trade and economic partnership.

Alfredo Bonet, Director of International Relations of the Chamber of Commerce of Spain, stressed the importance of economic cooperation with Kazakhstan: "Today, a large number of Spanish companies have worked or are working in Kazakhstan, including "Talgo", "Repsol", “Maxam”, “Indra”, “Airbus Military”, “Teltronic”, “Imabe Iberica”, “MYPE”, “Inditex”, “Eptisa”, “TYPSA”, “Grupo AGEM”, “OHL”, “INECO”, “IDOM” or “Globaltec”, most of them are presented here today. The presence of these companies is a proof of their confidence in the future of Kazakhstan's economy and their commitment to contribute to its growth and sustainable development in the coming years", - summed Mr. Bonet.

At the end of the forum were held bilateral meetings in the B2B format, where parties have reached some preliminary agreements on cooperation. For example, representatives of the Association of Legal Entities "Union of Machine Builders of Kazakhstan" established direct contacts with Spanish companies in the field of mechanical engineering and military-technical sphere and promotion of export of services was particularly interested in mutually beneficial cooperation.