Kazakhstan, Bulgaria keen on boosting trade-economic cooperation

Photo: press office of the Kazakh MFA
SOFIA. KAZINFORM Ambassador of Kazakhstan to Bulgaria Viktor Temirbayev met with Minister of Economy and Industry of this country Bogdan Bogdanov for discussing the topical issues of trade and economic cooperation development, Kazinform learned from the press office of the Kazakh MFA.

The sides focused on specific issues and initiatives to enhance bilateral cooperation in trade, economic and investment spheres, including in priority areas under the Kazakhstan-EU Enhanced Partnership and Cooperation Agreement (EPCA). Special attention was given to the opportunities arising from the EPCA for cooperation between Astana and Sofia.

The parties held substantive negotiations on preparation and holding next V Meeting of the Kazakh-Bulgarian Intergovernmental Commission on Economic Cooperation.

Ambassador Temirbayev informed the Bulgarian side about the political and economic reforms initiated by the President of Kazakhstan Kassym-Jomart Tokayev, the ongoing work of the Kazakh Government to create a favorable investment climate, measures of state support to foreign investors and the opportunities provided at the AIFC and FEZ sites, and also shared views on potential «niches» for the development of economic relations between the business communities of the two countries.

In turn, Minister Bogdanov confirmed his readiness to boost cooperation with Kazakhstan in trade, economic and investment spheres.

In conclusion, the parties agreed to maintain close working contacts on all issues discussed during the meeting.

From January to April 2023, trade turnover between Kazakhstan and Bulgaria amounted to 27 million US dollars, exports reached 7 million US dollars, and imports - 20 million US dollars. In 2022, Kazakhstan attracted 8.66 million US dollars of Bulgarian direct investments. Since 2005, Bulgaria has invested 64.4 million US dollars in Kazakhstan economy, while Kazakhstan has invested 12.6 million US dollars in Bulgaria.

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