25.11.2022, 13:58 38341

Canada-Kazakhstan trade turnover set to reach $1B - ambassador

On the margins of the 5th Anniversary Plenary Meeting of the Kazakhstan Canada Business Council (KCBC) in Astana, Ambassador Kamaldinov praised the dynamics of bilateral merchandise trade between the two countries.
Trade turnover between Canada and Kazakhstan is set to reach around $1 billion by the end of this year, said Kazakhstan’s Ambassador to the country Akylbek Kamaldinov, Kazinform correspondent reports.
 
On the margins of the 5th Anniversary Plenary Meeting of the Kazakhstan Canada Business Council (KCBC) in Astana, Ambassador Kamaldinov praised the dynamics of bilateral merchandise trade between the two countries.
 
Although the two-way trade recorded a decline in 2020 due to the raging coronavirus pandemic, 2019 saw good dynamics, said the ambassador, adding that 2021 exceeded all expectations.
 
According to Akylbek Kamaldinov, in 2021 Kazakhstan attracted $380 million direct investment from Canada with trade turnover hitting $700 million. This year Canada-Kazakhstan merchandise trade has exceeded the mark of $700 million in January-August 2022 as the two nations continue to work closely in a number of sectors ranging from agriculture to technologies.
 
According to organizers of the meeting, Kazakhstan’s exports to Canada increased 3.6fold in the same period, totaling $609.2 million.
 
Ambassador Kamaldinov added that Kazakhstan is the number one uranium exporter to the Canadian market. In his words, Canadian business community takes a keen interest in various sectors of Kazakhstan's economy mainly thanks to similarities in economic structure, climate, and territory.
 

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