NUR-SULTAN. KAZINFORM the 7th meeting of Kazakhstan-Indian joint working group for trade and economic cooperation took place on September 10 via a videoconferencing, the Trade and Industry Ministry’s press service reports.
The meeting was co-chaired by Trade and Industry Deputy Minister of Kazakhstan Kairat Torebayev and Deputy Trade and Industry Minister of India Bidyut Behari Swain. Extraordinary and Plenipotentiary Ambassadors of Kazakhstan and India, concerned state bodies and organizations of both nations attended it.
As stated there, Kazakhstan attaches great attention to further development of mutual benefit trade and economic cooperation with India and the working group's meeting is one of the preparations for the forthcoming visit of President of Kazakhstan to India next year.
The meeting debated cooperation in various fields, such as trade, investments, transport, communications, agriculture, etc.
Kazakhstan proposed to carry out joint research on the development of Central Asian transport and transit economic corridor North-South connecting South Asia (Afghanistan, India) with Central Asia and Europe, Ural, Siberia and Far East to boost industrial cooperation.
As the data shows, in 2019 the commodity turnover between the countries made USD 1.9 bln that is 55.8% more than in 2018 (USD 1.2 bln). Kazakhstan’s exports to India in 2019 grew by 65% to make USD 1.6 bln. Import to Kazakhstan increased by 20.1% to settle at USD 291.6 mln. For the past 7 months the commodity turnover between the countries rose by 2.2 times to hit USD 2 bln. Exports grew by 2.4 times to stand at USD 1.7 bln.