ADQ and Qazaqstan Investment Corporation establish co-investment platform


Baiterek Holding intends to attract Spanish investors in engineering industry

Baiterek Holding intends to attract Spanish investors in engineering industry
Kazakhstan intends to expand cooperation with Spain in engineering, agriculture and water management. About this at the 7th meeting of the Kazakh-Spanish Business Council told Chairman of the Board of the holding "Baiterek" Kanat Sharapaev.

As the head of the holding noted, about 150 participants from Kazakhstan and about35 participants from Spain. He emphasized that such events allow Kazakh and Spanish businesses build deeper relationships. Especially in the last year trade
turnover between the two countries increased significantly.

“At this stage, the mutual trade turnover between the two countries amounted to about 2.5 billion euros, which is almost 42% of the growth in relation to the previous year. We are constantly increasing our trading and investment relations with Spain,”
said Kanat Sharapaev.
He added that within the framework of the meeting, negotiations will be held on a number of priority areas for Kazakhstan. Within them, Kazakhstani party intends to advocate for the intensification of the use of competitive advantages of the two
countries to expand bilateral investment cooperation in priority sectors of the economy.

“Spanish companies are our main technological partners primarily for the supply of equipment. We are leading negotiations precisely so that Spanish companies become technological our business partners in Kazakhstan. This will take place according to the main three industries. As part of the council, we will hold a series of negotiations, in including water treatment facilities, development of our cooperation in the agricultural sector and in the field of management water resources, as well as in the field of mechanical engineering,” added the head holding.

In general, according to him, the European Union is one of the largest partners of Kazakhstan in terms of economic cooperation, and Spain is one of the most important partners in this cooperation. For example, the Second Strategic Cooperation Agreement was signed with Spain. The head of the holding also pointed out that the Kazakh side has enough projects that can be proposed in terms of cooperation.
“But for us it is important not only what we can offer, but also what the Spanish side can offer us. In terms of interaction with Spanish investors, we would like to see three main things: first - this is technological expertise, the second is the investor's experience in working precisely in the industry in which they declare themselves and the third - their own participation. Only when these conditions are met, we will offer either participation in debt capital, or participation in equity, or support under export finance. For us, the most important thing is to ensure that the investor who comes to us was a full-fledged investor, with his full participation and technological expertise,” said the Chairman Holding boards.

For his part, the Spanish Secretary of State for Trade, Chiana Margarida Mendos Bertolo outlined the main aspects of the Kazakh-Spanish cooperation. She recalled that there are many enterprises in various industries built with the participation of Spanish investors.

“There are a lot of successful cases between Kazakh and Spanish business. For Spanish business, Kazakhstan is very significant market. Spanish companies can offer Kazakhstan today cooperation, for example, on renewable energy. The purpose of today's advice is promoting bilateral trade and identifying barriers that may prevent, and just ways to eradicate them. We see the potential of Kazakhstan in economic growth. That your strategy is aimed at sustainable structures and on modern technologies and experience,” said Shiana Margarida Mendos Bertolo.

She clarified that within the logistics corridor Europe and Asia Kazakhstan is a very important entry market for countries such as China. In addition, Kazakhstan acts as a transit country and the main direction, platform for Spain in creating value for sustainable development, export diversification. In turn, the Spanish companies can offer high-tech equipment for improving these relationships.
The Spanish Secretary of State for Trade expressed her confidence that today's meeting will serve to further develop joint projects and strengthening economic ties.

“We have already achieved pre-pandemic results, and our governments help us further develop our economic ties, aspects ecological transitions; and transport and gender equality. We combating climate change, promoting equity for less wealthy people. Through cooperation, we achieve high tax revenues. In 2023, growth was 5%, which is very high economic indicator, which is very important in the framework of international context,” added Shiana Margarida Mendos Bertolo.

As the foreign guest concluded, Spanish companies are aimed at continuation of fruitful cooperation with Kazakhstani partners. The forum was attended by high-ranking representatives of both countries, including also the Director General of the Spanish Chamber of Commerce Inmakulad Rier, Vice Minister of Trade and Integration of the Republic of Kazakhstan and co-chairman of the Kazakh-Spanish Intergovernmental Commission Kairat Torebaev, MAXAM President and Spanish Co-Chair Business Council Jose Manuel Vargas and others.

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