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  • Kazakh, US commerce officials met in Washington
21 October, 2019 09:29

Kazakh, US commerce officials met in Washington

Kazakh Minister of Commerce and Integration Bakhyt Sultanov and US Secretary of Commerce Wilbur Ross held a bilateral meeting on 18 October 2019 in Washington within the annual meeting of the Board of Executive Directors of the World Bank Group and the International Monetary Fund, Strategy2050.kz informs with reference to the Ministry of Commerce and Integration.

Kazakh, US commerce officials met in Washington | Strategy2050.kz

The meeting held as part of the session of the Kazakhstan-US High-Level Economic Cooperation Group, initiated by the first Kazakh President during his visit to the United States in January 2018, touched upon the bilateral cooperation in domestic and foreign commerce, goods and service exports, commercial and investment projects, joint projects with Tyson Foods, financial support to joint projects on sanctions policies, intellectual property and e-commerce, as well as cooperation within the WTO and OECD.

With the 2018 trade turnover of $2.2B, increasing by 36%, the USA is a key strategic partner of Kazakhstan.

In the space of 8 months of 2019, both countries’ trade has stood at $1.4B.

To further the trade and economic cooperation and maintain its positive dynamic, the sides agreed to expand the range of goods and services, establish direct contacts between business circles.

The Kazakh side proposed to speed up the mutual trade through increasing exports from Kazakhstan by adding 50 items for over $802.1M.

chronicle 2050

SMEs will make up at least 50% of the GDP

abour productivity will reach up to $126 000 and 3 to 6 y.o. kids will have 100% access to pre-school education in Kazakhstan.

Kazakhstan will fully satisfy its own market of POL in compliance with the new environmental standards

The share of non-primary exports in total exports will double and triple by 2040

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95% of the population will speak Kazakh

15% of the area under cultivation will make use of water-saving technologies.

The issue of providing water for irrigation will be resolve

GDP per capita will stand at $60 000

The urban population will represent 70% of the total population in Kazakhstan