Business priorities coincide

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Kazakhstan and Russia can reduce import substitution and jointly enter the common market

Kazakhstan almost completed the formation of its transport corridors in order to minimize the transit costs when exporting goods. This was announced today during the Kazakhstani-Russian business forum by Deputy Minister for Investment and Development of Kazakhstan Albert Rau. Comparing the measures of support of domestic producers in the two countries, Albert Rau noted that the actions taken at the government level are in synchrony. "I am glad that most of the tools are the same. The priorities are too", - stated the vice-minister.

Announcing the industrial plans of Kazakhstan for the future, Albert Rau said that "within the second Five-Year Plan, we have narrowed down our tasks to a minimum". It is about increasing productivity, although in comparison with OECD countries, "Kazakhstan is lagging behind by this indicator". Moreover, Vice-Minister stressed that it is "done not at the expense of staff streamlining, but through introduction of innovative techniques". "Second - is a task for the growth of exports of finished products. Therefore, the tools that are used in Russia today, are applied here as well", - said Albert Rau.

Among the main objectives of interstate industrial cooperation Albert Rau named reduction of import. "We all EAEU countries manufacture products in the amount of 300 billion USD, and we import finished products in the amount of 240 billion US dollars. This is an issue on which we need to work together: how to create a value chain, how to add up our competences", - said Albert Rau. In addition, it is necessary to eliminate unfair competition and carry out "a deep analysis on this site".

"So now there is a big challenge - how can we develop jointly the potential of import substitution, how to enter together to the general markets, and most importantly, how to make the value chain, so that it is beneficial for business of both countries", - summed up Albert Rau.

According Kaznex Invest, 6453 companies with Russian participation successfully work in Kazakhstan in such sectors as oil and gas, manufacturing, transportation, communications, engineering, space cooperation, peaceful use of nuclear energy.

Zhanar Serdalina