Kazakhstan-EAEU trade turnover reaches $10bn

Nur-Sultan, The Gulf Observer: A meeting of the Kazakh Trade and Integration Ministry Board; chaired by Bakhyt Sultanov, focusing on the results of the ministry’s work for H1 of this year and the tasks for the upcoming period has taken place.

According to Vice Minister of Trade and Integration Zhanel Kushukova, over the first five months of 2022, an upward trend in Kazakhstan’s foreign trade was observed.

In January-May of this year, the country’s foreign trade turnover was estimated at $51.3bn. The country’s export was up 59% to amount to $34.2bn. Kazakhstan-EAEU trade also demonstrated positive dynamics.

Kazakhstan-EAEU trade turnover stood at $10bn, up 5% compared to the same period of 2021. Work is ongoing to eliminate barriers for Kazakh goods in the EAEU markets, she said.

Kushukova said that the Ministry carries out nine digital projects, including a social wallet with a payment system. Kazakh Trade and Integration Minister Bakhyt Sultanov pointed out the social wallet project needs to be launched by the year end.

According to him, this will serve as a digital instrument for the distribution of funds for social support of the population with monitoring of their efficient use in place.