Speaking at the meeting of the Foreign Investors’ Council, Tokayev emphasised that the long commodity super-cycle was nearing completion.
On June 10, President of Kazakhstan Kassym-Zhomart Tokayev took part in the 33rd online meeting of the Foreign Investors’ Council. Speaking at the meeting, the leader of Kazakhstan set the goals, which were to enable Kazakhstan to continue to attract foreign investments, the press office of Akorda reported.
The top managers of major multinational companies and representatives of government agencies and authoritative international organisations took part in the meeting to discuss the ways of moving away from commodity exports.
Tokayev emphasised that the long commodity super-cycle was nearing completion. Greening of national economies is taking concrete shape, and these circumstances make it imperative that the economy of Kazakhstan moves toward diversification, technological re-equipment and large-scale ‘green’ approaches. The economic base of the state could not build only on domestic demand and raw materials exports, Kazakhstan would continue to create an enabling environment to attract foreign investments, the President said.
The President highlighted the need to promote processed products exports. He noted that these measures would be an insurance against volatile prices for raw materials and an engine for national economies to produce in-demand products and services.
The leader of Kazakhstan also noted that the ‘forced’ passivity of world trade had an impact on Kazakhstan. In 2020, external trade amounted to 85 billion, showing a decrease of 13% as compared with 2019. In this regard, export was viewed as the crucial tool for national economic growth, the President said.
