Kazakhstan has already signed 61 export contracts up to $300 million. Now it is going to start exporting to the EU and the United States. According to preliminary calculations, the total sum of these contacts might exceed $2 billion.
When talking about export, Bakhyt Sultanov, head of the Kazakhstani Ministry of Trade and Integration, compared himself to a traveling salesman. According to Sultanov, the main task now is to promote more local products for export. For example, when it comes to cooperation with Russia, the Ministry sticks to this position.
“We are ready to expand export almost to 90 commodity items. We have been suggesting to our colleagues (in other countries) products up to $250 million. A very promising export direction is Central Asian countries. We work here very hard. We suggested more than 230 commodity items for $500 million in total,” the minister said.
The most important export direction is China where the Kazakhstani Ministry of Trade is very active. Currently, Kazakhstani authorities are trying to promote to the Chinese market 60 commodity items that cost more than $1.3 billion, with the expectation that the country can easily consume all these products.
However, at the moment Kazakhstani producers are not able to supply needed volumes of goods. This is the major problem.
According to Sultanov, during the last six months, Kazakhstan has held more than 50 events abroad where 300 Kazakhstani companies were engaged as participants. As a result, 61 export contracts were signed to the amount of $300 million. Also, thirteen local exporters were supported by the Development Bank of Kazakhstan to the value of 105 billion tenge (Kazakhstani currency).