31.10.2006, 11:45 6148

Kazakhstan, Israel develop cooperation

Astana. October 31. Kazakhstan Today - On Monday the meeting of the Vice Prime Minister of Kazakhstan Karim Masimov with the Prime Minister of Israel Ehud Olmert took place in Jerusalem, Kazakhstan government informed the agency.

Discussing the process of WTO introduction of Kazakhstan, E. Olmert assured that Israel supports aspiration of Kazakhstan in this direction." "We will assist your country in achievement of this objective," he assured.

The parties ascertained dynamical growth in development of mutual relations. Acknowledgement of that became the signing of the Contract between National Innovative Fund Company and Vertex Venture Capital on investment of the Science Investment Fund in Israeli in the venture fund Vertex III Fund L.P. The sum of Kazakhstan investments in venture fund will make $5 million out of $150 million.

According to Kazakhstan MFA, Israeli businessmen invested in the economy of Kazakhstan more than $270 million. The main fields of activity of Israeli business in Kazakhstan are steel oil-and-gas, mining, metallurgical branches, manufacture of cable production and public service. Commodity turnover between Kazakhstan and Israel in 2005 reached $724 million and within 8 months of the current year - $506 million.

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