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Trade between Kazakhstan and Switzerland Grew 21% in 2017

Wednesday 11 July 2018

ASTANA (Interfax-Kazakhstan) – The trade turnover between Kazakhstan and Switzerland totalled $3.2 bln in 2017, which is 21% more than in 2016, the Kazakh government’s press office said.

Switzerland is the 5th largest trade partner of Kazakhstan. Of the five Central Asian republics, Kazakhstan is Switzerland’s most important trading partner. Today Switzerland is the third largest investor in Kazakhstan’s economy and fourth among European countries in terms of its trade turnover with Kazakhstan.

About 40 Swiss companies are registered in Kazakhstan. Since 1999, meetings have been held regularly within the framework of a Joint Economic Commission. Switzerland mainly exports chemicals, pharmaceutical products and precision instruments, and mainly imports oil and natural gas.

As part of its efforts to prevent the misuse of the Swiss financial centre, Switzerland is using a World Bank trust fund to return $48 mln in assets to Kazakhstan. These funds are meant to benefit the people of Kazakhstan. A corresponding agreement was signed by the SDC and the World Bank on 20 December 2012.

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