Authorities report more and more American businesses in Kazakhstan

Kazakhstan has cooperated with leading American companies for more than 30 years and the pull of such companies has been constantly expanding, according to Alibek Kuantyrov, minister of the national economy, who gave a speech during a meeting of the U.S.-Kazakhstan Business Council attended by representatives of Chevron, Boeing, Citi and Pfizer.

As the official noted, the turnover between the two counties increased by 37% to $3.1 billion in 2022 compared to 2021. For instance, exports of Kazakhstani goods to the U.S. rose by 32% to $1.2 billion, while imports of American goods to Kazakhstan increased by 40% to $1.9 billion last year.

«The amount of investments from the U.S. has grown by 9%, thanks to economic reforms initiated by the government of Kazakhstan and aimed at the improvement of the investment climate in the country,» Kuantyrov highlighted.

On the other hand, leading U.S. companies are also looking to cooperate with Kazakhstan. For instance, Julie Monaco, global head of Citi’s Public Sector Group and the Kazakhstani minister, discussed global challenges and threats to the world’s economy as well as the current trends in the financial market. She also talked about in what directions Citi is going to develop its business.