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  HOME | Business & Economy (Click here for more)

Spain, Kazakhstan Seek Warmer Business Climate

MADRID – Spain and Kazakhstan reinforced on Tuesday their commitment to continue working to improve the business climate between the two countries in a bilateral meeting held at the Spanish Chamber of Commerce in Madrid.

“Both Spain and Kazakhstan are two economies that have had significant growth in recent years, with good prospects for this year as well. Both are increasingly open and a growing interest in promoting international trade,” said Secretary of State for Trade, Xiana Mendez.

The business meeting was also attended by Kazakhstan’s ambassador to Spain, Konstantin Zhigalov, and Kazakh Deputy Foreign Minister Yermek Kosherbayev, whose ministry’s mandate since December has been to concentrate on boosting foreign investment.

“We have a lot of embassies and it would be quite reasonable to use the potential of these embassies, specially on the field of attracting investment and working with our investors,” Kosherbayev told EFE.

“They (embassies) could be and should be that kind of window for the investors that would like to come to Kazakhstan”

The Kazakh deputy minister highlighted the excellent diplomatic relationship between the two countries and Kazakhstan’s interest in the technological potential of Spain, whose companies already have an increasing presence in the sectors of transport infrastructure, renewable energy, urban waste management, the pharmaceutical industry and agroindustry.

Mendez noted that Spanish exports in the Central Asian country reached 120 million euros ($136 million) in 2018, while imports stood at 2.1 billion euros ($2.38 billion).

“We import crude from Kazakhstan and export high value-added products, but the numbers are still lower than what the dynamism of our economies indicate,” said Mendez.

 

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