Almaty. November 30. Information Center - Kazakhstan and
Canada discussed the prospects for cooperation and implementation of investment
projects in such industries as agriculture, healthcare, education, metallurgy,
energy, construction, transport, and aerospace, Trend reports citing KAZAKH
INVEST National Company.
The topic was at the final plenary session of the IV meeting
of the Kazakhstan Canada Business Council "Post Pandemic Kazakhstan and
Canada Cooperation: Recovery and Development" (KCBC) in the online
As noted during the session, in the new prevailing
circumstances, nurturing the Canada-Kazakhstan economic relationship will
continue to be a worthwhile objective that Canada will pursue.
The hope for active interaction of the business communities
of the two countries for the implementation of joint investment projects was
also expressed. A positive assessment of the actions of the Government of
Kazakhstan to minimize the negative effect on the country's economy, including
the development of a favorable investment climate was also noted.
The session participants also noted that Kazakhstan is
Canada's largest trade and investment partner in Central Asia.
'In fact, over the past 15 years, FDI from Canada to
Kazakhstan has exceeded $5 billion. In Canada's Global Markets Action Plan,
Kazakhstan is designated as a priority emerging market with a wide range of
opportunities for Canadian companies. In turn, a strong interest of Canadian
business in doing business in Kazakhstan is observed,' the report said.
Chief Economist of Global Affairs Canada Marie-France Paquet
who took part in the session noted that Canada's commercial linkages with
Kazakhstan are mostly of Canadian direct investment in Kazakhstan and imports
'Canadian FDI in Kazakhstan is 20 times the value of exports
and has been on the rise in the last 5 years. The CAGR of foreign investments
from Canada to Kazakhstan has been close to 26% between 2015 and 2019. As such,
Kazakhstan is the 8th destination for Canada in terms of investment in the Asia
and Oceania region,' Paquet said.