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Kazakhstan plans to create free trade zones with EFTA countries, New Zealand, Vietnam

May 19 2014, 11:50

The RoK Ministry of Economy and Budget Planning jointly with the Customs Union countries is holding negotiations on free trade zone agreements with the countries of the European Free Trade Association (EFTA), Vietnam and New Zealand, said Aliya Alimbetova, acting director of the foreign trade development department of the Ministry, at the briefing  in Central Communications Centre in Astana, azh.kz reports.

“Also for attraction of investments and development of trade relations we work on signing of agreements on free trade zone with the countries of the Customs Union – that is Vietnam, New Zealand, EFTA countries that includes Norway, Switzerland, Liechtenstein and Iceland”, - said Alimbetova.

According to Alimbetova, these agreements will promote attraction of investments for development of foreign trade activity and allow Kazakhstan products to enter the markets of the above countries.

Besides, the Ministry is working on signing of a new agreement on extended partnership and cooperation with the European Union, dailynews.kz reports.

 “Kazakhstan is the only country in Central Asia that is establishing a new level of relations with the European Union”, - noted Alimbetova.

She also announced 10 top countries that actively invest into Kazakhstan's economy.

“Kazakhstan ranks among the most attractive countries for foreign investment. The total amount of direct investments attracted to Kazakhstan reached about USD 180 bln by the end of 2013,”- said Alimbetova. 
“The Netherlands, Germany, the US, the UK, France, Japan, Russia, China, Canada are the major countries to channel large investments into Kazakhstan,” she added.
According to her, the country's commodity turnover made USD 132 bln in 2013. 41% of total sales fall on the countries of the European Union, 17,9% and 17% on Russia and China correspondingly, followed by Switzerland and Ukraine.

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