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11 Июня, 2019 17:53

Japan brings in quality to Kazakhstan

With the Investment Committee and the Kazakh Embassy to Japan and Kazakh Invest National Company working alongside on around 20 projects, Kazakhstan and Japan share the mutual interest and prospects for cooperation in petrochemistry, infrastructure, pharmaceuticals, energy, information technology and innovation. Read more about the state of the Kazakh-Japan relations in the review of the Strategy2050.kz Information Agency.
Japan brings in quality to Kazakhstan | Strategy2050.kz

Japan is key when trading and partnering with Kazakhstan in the Eastern Asian region. It is also among the ten large investing countries in Kazakhstan, with Japanese investments of 5.8 billion U.S. dollars flew in the country between 2005 and 2018, while investments of 403 U.S. million dollars poured from Japan into Kazakhstan in 2018 alone.

The mutually beneficial cooperation allowed for greater result in the relations of the two countries. So over 70 Japanese enterprises involving Japan’s capital operate in Kazakhstan.

The Intergovernmental Commission on Trade and Economic Co-operation and Mutual Relations Agreement and the Business Council are effective. Thus, there is an agreement to promote and mutually protect investments. Japanese investors have implemented projects in the chemical industry, mechanical engineering, infrastructure, agro-industrial complex and mining and metallurgy.

Japan’s company Mareven Food started a plant for cooked food and semi-finished products output in Almaty region. The $50 million worth plant allowed for creation of around 600 jobs and supplies the products not only in Kazakhstan, but also EAEU countries, China, Uzbekistan and Mongolia. 

Tokio Rope, a world leader in steel cables production, launched a plant for engineering protection systems production in Almaty with the capacity of over 17 thousand tons of steel items per year. 

Japanese Company Cokey Systems opened a plant for deep processing of licorice root in Zhambyl region. With a licorice root containing glycyrrhizic acid, it is used as a food sweetener and for the medications.

Japanese transportation company NYK Group launched a logistics terminal for handling cars in Almaty, with terminal processing cars and transportation to dealers as its main activities. The investor is completing the similar terminal in Nur-Sultan. 

According to the resent statement by Kazakh Invest, the meeting with Toyota Tsusho Corporation discussed the opportunities of cooperation in the agro-industrial complex and the creation of projects with the possibility of future exports of products to Japan. Also, the investors expressed interest in imports of buckwheat from Kazakhstan, which is a popular ingredient of Japanese noodles.

Kazakh Invest representatives briefed Japanese investors from the national oil, gas and metal corporation JOGMEC on the projects in the field of extracting rare earth metals, including nickel and cobalt. Meanwhile, the investors showed an interest in uranium and tungsten extraction projects’ implementation.

In the follow-up to the talks with Sojitz Corporation, a company with over 50 years of experience in transport, the investors expressed intended to carry out a project to manufacture containers and sleepers for railways, as well as to create a logistics hub within Kazakhstan. They also were interested in the agro and food industries, petrochemistry, IT.

It should be mentioned that the trade turnover between the two countries was 2 billion U.S. dollars in last year, with 1.5 billion U.S. dollars of exports and 497 million U.S. dollars of imports.

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