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Kazakhstan and Czechia Sign Agreements Worth Over $250 mln

Thursday 25 October 2012

ASTANA (Interfax-Kazakhstan) – Cooperation agreements totalling over US $250 million in value have been signed during an official visit of Kazakh President Nursultan Nazarbayev to Czechia, said the president’s press office in a press release.

According to Kaznex Invest, the Kazakh National Agency for Export and Investments, a total of 13 documents were signed, including nine investment agreements worth €110.3 million.

In 2011, trade between Kazakhstan and the Czech Republic was valued at more than $800 million. About 20 branch offices and 76 joint ventures with Czech companies operate currently in Kazakhstan. “We are going to bring the volume of trade between Kazakhstan and the Czech Republic to $1 billion,” President Nazarbayev said.

Among the nine agreements signed, the following are noteworthy:

  • Czechia’s FAVEA and Kazakhstan’s ROMAT concluded an agreement for construction of a pharmaceutical plant in Semey (a city in the East Kazakhstan) to produce injectable drugs and infusion solutions. FAVEA also signed an agreement with the Pavlodar Pharmaceutical Plant (in the Pavlodar Region, north Kazakhstan) for construction of a pharmaceutical production facility.
  • Czechia’s Puro-Klima sealed agreements with TreeofLifeKazakhstan LLP for construction of a rehabilitation centre in Aktau (the administrative centre of the Mangistau Region, west Kazakhstan) and with Zhuldyz-Kenan for construction of a private hospital in Almaty (southeast Kazakhstan) that will be supplied with Czechia-made medical equipment.
  • Karaganda Engineering Consortium LLP, JSC Astana Innovations and the Association of Engineering Technology of Czechia inked a memorandum of understanding.
  • Kazphosphate LLP and Fosfa agreed to expand their cooperation on a project for production of phosphorous salts and liquid detergents.
  • Industrial Company NIKA LLP and JSC Agroexpo Czgroup reached agreement on design and construction of an equipment supplier for a poultry farm and a meat processing shop in the Akmola Region (central Kazakshtan).
  • Czechia’s NATE a.s. concluded an agreement with Libella Bottlers Almaty to supply equipment for juice production in Almaty.

According to the president, Kazakhstan wants to familiarize with Czechia’s best business practices, including technical and industrial parks, and implement investment projects together with Czechia.

When speaking at the forum, Nazarbayev invited Czech businesses to participate in Kazakhstan’s national program for industrial development and attend the 6th Astana Economic Forum that will be held in the capital of Kazakhstan in May 2013.

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