Kazakhstan augments trade with SCO member states
Trade turnover between Kazakhstan and member countries of the Shanghai Cooperation Organization amounted to over US$14 billion following the results of four months of this year. According to the website of Kazakh Prime Minister, this is 11 percent more than in the same period of last year, when the mutual trade of the parties reached almost US$13 billion. As the website stated, the potential of increasing domestic exports to the SCO member countries is growing every year. Today it reaches about US$2 billion in such sectors as chemical and food industries, mechanical engineering and other manufacturing fields of the economy. This is also evidenced by the statistics presented on the website.
“Trade turnover between Kazakhstan and Uzbekistan reached US$1.2 billion from January to April of 2021, which is 41 percent higher than in the same period of last year. The indicator of mutual trade with Tajikistan significantly rose as well by 17 percent, totaling US$335.9 million. Overall, in 2020, the trade turnover between Kazakhstan and Central Asian countries amounted US$4.6 billion,” the website states.
Recently, Kazakhstan has already put forward several initiatives to the partners of the Organization. These are expanding the range of supplied goods and services, establishing direct contacts between business circles, as well as developing cross-border digital infrastructure, including e-commerce, trade finance and data exchange.
Translation by Saniya Sakenova
Editing by Galiya Khassenkhanova