Kazakh-Austrian Business Council in Vienna: strengthening commercial and economic relations

In his speech, the head of the KazCIC stressed the importance and prospects of further commercial and economic cooperation between the two countries, noting that it began more than thirty years ago, when diplomatic relations between Kazakhstan and Austria were established in 1992. Despite the distance and the diversity of economic realities, the countries were able to create a solid foundation for partnership.

Increased turnover

The trade turnover between Kazakhstan and Austria increased by 64% in 2023 and amounted to about 333 million US dollars (exports – 9.7 million, imports – 322.9 million). In 2022, this figure was 202.7 million US dollars (exports – 4.7 million, imports – 198 million). Kazakhstan exports food products, rare metals, oil and petroleum products, as well as navigation devices and instruments to Austria. In turn, Austria supplies medicines, orthopedic devices, vaccines, mineral and carbonated drinks to Kazakhstan.

Diversification and new areas of cooperation

“Thanks to active efforts to diversify the economy, both sides are starting to look for new areas for cooperation. 141 companies with Austrian participation have already been registered in Kazakhstan, including such well-known brands as Kapsch, Liebherr, Gebrüder Weiss and others. The Atameken National Chamber of Entrepreneurs is actively involved in the process of economic reforms in Kazakhstan and represents business interests in government agencies. We are implementing a policy aimed at attracting foreign investment, maintaining stable tax conditions and creating fair business conditions," Murat Karimsakov emphasized.

Investment Platform

The Chairman of the Board of the Chamber of International Commerce of Kazakhstan presented the National Digital Investment Platform, which is aimed at attracting foreign investors. A register of foreign investors will be organized on this platform, as well as a set of investment proposals for the territory of Kazakhstan. Foreign partners will be able to register, create their own personal account and gain access to the register of investors, which contains proposals for various industries and regions.

Investor support

"The Chamber of International Commerce of Kazakhstan offers a wide range of services aimed at promoting exports, attracting foreign investment and developing bilateral commerce. We are ready to provide comprehensive turnkey services for finding partners and organizing business meetings," Murat Karimsakov added.

He also stressed that the Chamber will act as an intermediary between foreign companies and local authorities, helping establish a dialogue and clarifying legal norms and regulations.

Conclusion

At the end of his speech, Murat Ratovich thanked all the participants for their active participation and expressed the readiness of the Chamber of International Commerce of Kazakhstan to help Austrian companies in finding partners, distributors and promising projects. He expressed confidence that through joint efforts the parties will be able to reach new heights and make cooperation more effective and mutually beneficial.

The Business Council was an important step in strengthening bilateral relations between Kazakhstan and Austria, opening up new horizons for cooperation in various fields of the economy.