Volume of trade between Kazakhstan and US reached $3.3bln
A round table was held in the U.S. Chamber of Commerce with the participation of heads of American companies and members of the U.S.-Kazakhstan Business Council (USKZBC) on the results of joint work over the past year, Kazinform News Agency correspondent reports.
The participants of the round table noted a significant increase in bilateral trade, which reached $3.3 billion in the first nine months of 2024, which is a record figure for the last four years.
Special attention was paid to the importance of enhancing investment partnerships in sectors such as logistics, agriculture, infrastructure, information technology and energy.
Kazakhstan's Ambassador to the United States Yerzhan Ashikbayev presented a wide range of investment opportunities in the country, including tax incentives and digitalization of tax administration to increase transparency of mechanisms. He noted successful high-level mutual visits, as well as U.S. trade missions to Kazakhstan and the launch of new dialogue platforms such as “B5+1”.
In addition, Ambassador Ashikbayev highlighted the growing fintech ecosystem of the country, emphasizing Kazakhstan's leadership in the field of digital transformation and non-cash financial transactions.
Khush Choksy, Senior Vice President of International Member Relations at the U.S. Chamber of Commerce on programs in the Middle East, Türkiye and Central Asia, noted the interest in developing trade relations and promoting American investments in Kazakhstan. The work was noted during the mutual visits of the business delegations of the two countries.
Khush Choksy noted that he would look at the new US administration with optimism in 2025 and he plans to send another business delegation to Kazakhstan in the near future, possibly before the “C5+1” event.
At the same time, Khush Choksy stressed that it is important for the American business community to establish “permanent normal trade relations” with Kazakhstan, which is long overdue.
Representatives of American companies noted the role of Kazakhstan as a stabilizing force in the region and the country's transport and logistics capabilities within the Middle Corridor. As an important milestone in bilateral relations, they mentioned the expected launch of direct flights between Kazakhstan and the United States, which will give impetus to strengthening economic and cultural exchanges between the countries.
The round table ended with a series of questions and replies, which raised the topics of Kazakhstan's commitment to maintaining stable oil production within OPEC+ quotas, the growing fintech ecosystem and the country's transport and logistics potential.
Earlier, the U.S. State Department gave an official assessment on the results of the “C5+1” meeting during the UN General Assembly in New York.
