Trade turnover between Kazakhstan and Oman exceeded $300,000 in the first seven months of this year. Kazakhstan supplies the Omani market with machinery components, electrical equipment and plastic products. Exports amounted to $92,000. Imports reached almost $213,000, increasing 2.5-fold. Oman supplies Kazakhstan with perfumes and cosmetics, as well as copper ores and concentrates. Analysts note that the potential for economic cooperation extends far beyond current trade volumes. Since 2005, the inflow of direct investment from Oman into Kazakhstan has amounted to more than $253 million. Omani capital is also present in the oil and gas sector. The two sides now intend to step up business contacts and expand mutual trade. Promising areas include supplies of Kazakh agricultural and industrial products to the Omani market.
«Kazakhstan can increase supplies of grain, flour, meat and other products. In addition, more favorable conditions are now being created for businesses. The two countries are stepping up the work of the intergovernmental commission and discussing the establishment of a joint business council and an institutional fund. For example, Kazakhstan is interested in Oman’s ports as an additional gateway to the markets of the Persian Gulf and the Indian Ocean. One possible route would run through Kazakhstan, Turkmenistan and Iran, and then onward through seaports,» noted Alisher Bazarbayev, Deputy Director, World Economy Research Center, Economic Research Institute.
Related Articles
