Switzerland eyes joint investment projects in co-op with Kazakhstan | Eurasia Diary - ednews.net

24 September, Thursday

Switzerland eyes joint investment projects in co-op with Kazakhstan

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Switzerland is interested in implementing joint investment projects with Kazakhstan, Eurasia Diary reports citing Trend news.

This was announced during talks held between Kazakhstan’s Prime Minister Askar Mamin and President of the Swiss Confederation, Head of the Swiss Federal Department of Finance Ueli Maurer, who arrived in Kazakhstan on an official visit.

According to Mamin, Kazakhstan has a stable partnership with Switzerland.

“The basis for such a relationship was laid by the First President of Kazakhstan – Elbasy Nursultan Nazarbayev. Kazakhstan’s President Kassym-Jomart Tokayev maintains the continuity of the multi-vector foreign policy and attaches particular importance to strengthening bilateral cooperation,” Mamin said.

In his turn, Maurer noted that Kazakhstan is an important partner of Switzerland in Central Asia.

“Our interaction is developing both in a bilateral format and within the framework of the World Bank and the International Monetary Fund. We are interested in enhancing economic cooperation and implementing joint investment projects,” Maurer said.

He also emphasized the favorable investment climate and conditions for business development in Kazakhstan, as evidenced by the country’s position in the World Bank’s Doing Business ranking.

The parties discussed the prospects for cooperation in a wide range of areas — in trade, economic, investment, transit and transport, agricultural, information and communication, green economy and water sector.

In the course of the official visit of the President of Switzerland Ueli Maurer to Kazakhstan, negotiations are planned with the First President of Kazakhstan – Elbasy Nursultan Nazarbayev and country’s President Kassym-Jomart Tokayev, alongside a round table with business representatives of the two countries.

Switzerland is among the ten largest trading partners and the top three key investors in Kazakhstan. Trade turnover between countries was $1.9 billion during nine months of 2019, and trade in services grew by 40 percent during 1H2019 compared to the same period last year.

Since 2005, Switzerland has invested more than $24 billion in the economy of Kazakhstan. The activities of the Intergovernmental Commission on Trade and Economic Cooperation and the Kazakh-Swiss Business Council contribute to strengthening economic partnership.

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