Kazakhstan to increase wheat export by 1 mln tonnes

None
None
ASTANA. KAZINFORM Kazakh Senate Committee for Economic Policy, Innovative Development and Entrepreneurship held an expanded session to consider Draft Law "On Ratification of the General Agreement for Economic, Technical and Commercial Cooperation among the Member States of the Organisation of Islamic Conference", Kazinform correspondent reports.

Presenting the draft law Kazakh Vice Minister of National Economy Yernar Bakenov noted that ratification of the agreement make it possible to enhance trade and economic cooperation with the OIC countries.

"Being the world's second organisation after UN in number of members it includes 56 countries. Although our country's commodities turnover with the OIC countries is insignificant at 10 per cent, the figure has been dynamically growing for the last 5 years", Yernar Bakenov said.

The vice minister said that the figure was 7.2pct in 2012 and has risen to 10.3pct in 2016 .

"Besides, the export is higher than the total turnover of commodities. Agricultural products constitute the main part in the export structure. Altogether, we intend to increase export of agricultural products. The agreement we were considering today will provide with opportunities for extension of trade along here and will let increase delivery by 1 million tonnes of grain to these countries", Bakenov noted.

According to the disclosed information, the figure of Kazakhstan's goods turnover with the OIC countries to KZT6.3bn at the moment.

"All in all, we currently export nearly 1.5 million tonnes of grain to the OIC countries", Yernar Bakenov added.

The vice minister clarified that for now they have no specific arrangements for grain deliveries but they are negotiating to provide a legal foundation for smooth trade.

 

Currently reading