Kazakhstan-Singapore trade turnover up 65% last year

ASTANA. KAZINFORM – Prime Minister of Kazakhstan Alikhan Smailov addressed the Kazakhstan-Singapore business forum in the Kazakh capital Astana, Kazinform correspondent reports.

«Trade and economic cooperation is the core of our relations. Singapore is the largest trade and investment partner of Kazakhstan in the ASEAN region. Last year, the trade turnover was up 65% and amounted to $2bn. The total investments have risen six times in recent years; over 230 companies and joint enterprises are operating in Kazakhstan,» said Smailov.

According to the Kazakh Premier, the countries have a huge potential to expand the economic ties.

«There are all the necessary conditions for greater relationships,» said Smailov, adding that major Singaporean companies are increasing their presence in Kazakhstan.

In his speech, the Kazakh Prime minister thanked Surbana Jurong for cooperation in the realization of the G4 City project in Almaty region, set to become the largest investment destination in Kazakhstan. Smailov also thanked PCА International and hailed the agreement signed today to create a joint venture to develop the Middle Corridor. Cooperation with Indorama Corporation Pte is being established, he added.