The task is to increase trade turnover between Kazakhstan and India
Kazakh and Indian businessmen have identified the main directions of economic and trade cooperation between the two countries
Today in Astana at the hotel “Ramada Plaza Astana” was held the first meeting of the Kazakh-Indian Business Council (KIBC), created last year in the framework of the Agreement between Kazakhstani Chamber of Commerce and the Federation of Indian Chambers of Commerce (FICCI).
During the meeting, representatives of large, medium and small businesses of the two countries exchanged experiences and discussed the prospects of further cooperation.
In his welcoming remarks, Co-chair of KIBC from the Kazakhstani side Yerzhan Shaikenov stressed that the main purpose of the work of the Council - is promotion of Kazakhstani business in the Indian market, and vice versa.
"We also support the protection of the rights and legitimate interests of the businessmen of the Republic of Kazakhstan in the Republic of India. And intend to join forces in organizing the dialogue of business circles of the two countries", - said Yerzhan Shaikenov.
The Chairman of the Board of the Chamber of Commerce of Kazakhstan Ruslan Sultanov said that today the Republic of India is in sixth place among the Asian countries in terms of trade with the Republic of Kazakhstan. Ration of trade turnover with India is 1.1%.
"In 2014, bilateral trade reached 1.34 billion USD. (In 2010 - 300 million USD). Main exports - oil and oil products, radioactive chemical elements and radioactive isotopes, asbestos. India imports medical goods, tea, immune serum and other blood fractions and immunological products, tobacco, tobacco waste, and more ", - said Ruslan Sultanov.
According to Dinesh Sud, who represented the Indian delegation, last year the trade turnover between the two countries reached 1.6 billion USD. And today, he sees promising areas for the strengthening of economic cooperation between Kazakhstan and India in the field of IT-technologies, the development of transport logistics, application of innovations, as well as projects in the field of education, engineering and medicine.
"We hope that the Business Council will help in increasing trade and investment between the two countries. We plan in two to three years to bring this figure up to five billion dollars", - said Yerzhan Shaikenov.
Diplomatic relations between Kazakhstan and India were established in February 1992. In October 1993, the Embassy of the Republic of India opened in Almaty and in November of the same year - Kazakh Embassy was opened in New Delhi.
In 1994, the Chamber of Commerce of Kazakhstan and the Federation of Chambers of Commerce of India (FICCI) signed an agreement on establishment of the Kazakh-Indian Business Council, within the frames of which were held four meetings.
In connection with the abolition of CCI RK between Kazakhstani Chamber of Commerce and the Federation of Chambers of Commerce of India (FICCI) signed an agreement on establishment of the Kazakh-Indian Business Council last year. The meeting within the framework of the Council was held for the first time.
The representatives of about 30 Indian companies operating in the field of engineering, construction, logistics, IT-technologies, agricultural equipment, petrochemicals, pharmaceuticals, medicine, and 40 Kazakh companies interested in establishing trade and economic relations with Indian partners attended the meeting.
The protocol and the Road Map were signed following the meeting of the Kazakh-Indian Business Council.
The event was organized by the Chamber of Commerce of Kazakhstan and JSC “TengriBank”.
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