Kazakhstan Positions Itself To Be Gateway For India To Euras...| MENAFN.COM

Thursday, 09 February 2023 09:41 GMT

Kazakhstan Positions Itself To Be Gateway For India To Eurasian Market

(MENAFN- KNN India) Kazakhstan positions itself to be gateway for India to Eurasian market

Mumbai, Dec 26 (KNN) Kazakhstan has decided to host a mega exhibition to promote Indian products in the Commonwealth of Independent States (CIS) region in March next year.

Kazybek Shaikh, President of the National Association of Cooperatives and Other Forms of Economic Communities of the Republic of Kazakhstan confirmed this last week that Indian products will be marketed in the CIS region which is an intergovernmental organization made up of
post-Soviet nations
throughout Eurasia.

“The exhibition will promote Indian products across pharmaceuticals, engineering, agro commodities and other sectors. We have identified 300 products where there is potential to promote trade among India, Kazakhstan and Russia,” said Shaikh.

Leading a 14-member trade delegation from Kazakhstan to India to identify opportunities for commercial cooperation, Shaikh was speaking at an interactive meeting followed by a B2B networking session jointly organised by MVIRDC World Trade Center (WTC) Mumbai - an international trade promotion organisation and All India Association of Industries, said a press release.

Seeking support of WTC Mumbai, he said“WTC Mumbai is our preferred gateway to doing business in India. We want to establish a WTC in Kazakhstan to promote India's trade and investment in central Asia and Europe.”

Speaking on this occasion, Serik Nugerbekov, Head, International Secretariat of G-Global remarked,“We can promote India's trade with Kazakhstan and other neighbouring countries in Eurasia with the establishment of a WTC.”

Astana International Financial Centre (AIFC) in the Central Asian country has already positioned itself as a global centre to foster trade and financial ties between Central Asia and Europe.

Serik Nugerbekov also proposed to set up a new age digital platform to promote online trade & other business transactions between India, Central Asia and Europe with integrated features such as online government approvals, marketplace, buyer-seller meetings, smart contracts, cryptocurrency etc.

Earlier in his welcome remarks, Dr. Vijay Kalantri, Chairman, MVIRDC WTC Mumbai pointed out that the current bilateral trade volume of USD 500 million can be doubled in the next few years if we facilitate exchange of trade delegations and focus on a few sectors to start with.

Indian companies in pharmaceuticals, auto-components and other sectors can set up production units in Kazakhstan and consider it as a gateway to the 210 million consumers in the CIS region, Dr. Kalantri said.

WTC Mumbai also proposed setting up of a joint working group along with the Kazakhstan national association of cooperatives for exchange of trade delegations, organising buyer-seller meets and trade fairs to promote trade, investment, technology exchange and joint ventures between both the countries.
(KNN Bureau)


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