Italy invested $5.7 bln in Kazakhstan in past 11 years – Foreign Commerce Chamber

ASTANA. KAZINFORM The share of Italy in Kazakhstan's foreign trade turnover makes 11.6%, according to Acting Chairman of the Board of Kazakhstan's Foreign Commerce Chamber Ruslan Sultanov.

“Italy is Kazakhstan’s one of priority areas of trade-economic cooperation. The share of Italy in our foreign trade turnover is 11.6%. Last year, trade turnover between our countries decreased by 45% which is explained by fall of Kazakhstani export, caused mainly by oil prices reduction,” said Sultanov at a conference in Astana held jointly with Italian importers in Kazakhstan.

Alongside, the volume of import from Italy to Kazakhstan rose by 13.2% in 2015 compared to 2014 and reached 1.2 bln U.S. dollars.

“Investments are an important element of cooperation. In the past 11 years, the volume of Italian investments in Kazakhstan made 5.7% bln U.S. dollars. I hope that this dynamics will increase in future. We have enough opportunities for this,” added Sultanov.