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Kazakh-Belgian Business Council strengthens trade and economic cooperation between the two countries

Kazakh-Belgian Business Council strengthens trade and economic cooperation between the two countries
On June 5, 2023, the Kazakh-Belgian Business Council was held. The event brought together high-ranking representatives of the business community of Kazakhstan and Belgium, as well as diplomatic missions of both countries. The meeting was held in Astana and became an important platform for discussing common interests and strengthening constructive interaction between representatives of the two states.

The delegation of Kazakhstan was attended by the Chairman of the Board of Baiterek NMH JSC Kanat Sharlapaev, the Ambassador of the Republic of Kazakhstan to the Kingdom of Belgium Margulan Baimukhanov, co-chairmen of the Business Council Ayan Yerenov and Mr. Denis Van Den Veghe and other representatives of the business community. Belgium was represented by Ambassador of the Kingdom of Belgium to the Republic of Kazakhstan Henri Van Tigem, AWEX Director for Greater Europe Yves Richard, and President of the Benelux Chamber of Commerce Denis Van Den Weghe.
Chairman of the Management Board of Baiterek Holding Kanat Sharlapaev expressed full support and assistance to Belgian companies considering the possibility of doing business in Kazakhstan. Today, more than 70 enterprises with the participation of Belgian capital operate in Kazakhstan, including such large companies as Solvay Chemicals International SA, Sarens Group, Evolion and Induss. The holding expresses hope for the influx of new companies interested in business development in Kazakhstan.

Particular attention was paid to the business council to attract investment. The gross inflow of direct investment from Belgium to the Republic of Kazakhstan in 2022 amounted to 1.560 billion US dollars, and for the period from 2005 to 2022, the volume of investments amounted to 11.52 billion dollars. This indicates the confidence of Belgian companies in the investment environment of Kazakhstan and confidence in its potential.

Belgium is an important trading partner of Kazakhstan in the European Union, as well as a significant source of investment and new technologies. The turnover of goods between the two countries continues to show stable growth. At the end of 2022, the turnover of goods amounted to 514.5 million US dollars, which is 23% more than in the previous year. Kazakhstan exported products worth $272.1 million to Belgium, while imports from Belgium amounted to $242.4 million.

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