Kazakhstan’s Exports to EAEU Countries Increase by 90%
Minister of Trade and Integration Arman Shakkaliyev announced in the Mazhilis, the lower chamber of the Kazakh Parliament, that Kazakhstan's exports to the countries within the Eurasian Economic Union (EAEU) surged by 90% from $5.1 billion in 2015 to $9.7 billion in 2022, as per the ministry’s press service.
Over a span of seven years, Kazakhstan's bilateral trade with its partners witnessed a significant growth of 74%, climbing from $16.3 billion in 2015 to reach $28 billion by the conclusion of 2022.
In the current year, Kazakhstan made advancements by eliminating ten trade barriers. This included rectifying unequal VAT conditions for agricultural machinery in the Kyrgyz Republic, lifting restrictions on pharmaceutical access from EAEU countries in Belarus, and removing procurement barriers for machine tool products in Russia.
Minister Shakkaliyev highlighted the development of general criteria for industrial processing in approximately 450 goods across 17 sectors. This initiative aims to ensure equal access to procurement among EAEU nations.
Additionally, the list of goods with certificates of origin has expanded by 173 items. This expansion is anticipated to bolster Kazakhstan's exports to partner countries, potentially reaching markets with an annual volume exceeding $100 billion.
The minister also discussed the prospective agreements on establishing a free trade zone with third countries. These agreements have notably amplified trade turnover with Iran by 38% to $521 million in three years, seen a threefold surge with Serbia, reaching $73.8 million within a year, and achieved a 2.5-fold increase with Vietnam, reaching $525.7 million over seven years.(Source:astanatimes)
