Kazakhstan to boost economic cooperation with Canada

The Prime Minister emphasised the existence of a significant potential to expand the investment field and mutual trade.

On November 24, Prime Minister of Kazakhstan Alikhan Smailov held a meeting with Special Envoy of the Prime Minister of Canada to the European Union and Europe and Ambassador of Canada to France Stéphane Dion. The interlocutors discussed the prospects for increasing bilateral trade, attracting investment and promoting cooperation in the energy sector and the activities of the Kazakhstan-Canada Business Council, the press office of the Prime Minister of the Republic of Kazakhstan reported.

Alikhan Smailov positively evaluated the consistently growing dynamics of multifaceted economic partnerships. In 2021, mutual trade increased by 34% and amounted to $500 million. In 9 months of the year, this figure exceeded $730 million. The Canadian direct investments are growing; they have totalled $385 million this year.

In this regard, the Prime Minister of the Republic of Kazakhstan said the two countries have a significant potential to increase the fruitful investment exchange and bilateral trade turnover and develop renewable energy. Kazakhstan is able to increase the supply of 45 types of its goods in various sectors by $255 million, Alikhan Smailov said.

The Canadian diplomat expressed particular interest in enhancing cooperation in the energy sector and on renewable energy. In particular, he welcomed the joint efforts towards the transition to “clean” hydrogen and other types of eco-friendly fuels.

26 11 2022, 12:24
Photo source: primeminister.kz

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