Economic cooperation

According to the information of Committee of state revenues of the Republic of Kazakhstan, the trade turnover between Kazakhstan and Serbia for January-November 2018 amounted $27,2 mln. (import - $23,7 mln., export – $3,5 mln.) In 2017 trade turnover was $42 mln., in 2016 – $26,4 mln., in 2015 - $55,8 mln., in 2014 - $ 20 mln.

The structure of import consists of agricultural products, export - food, light, chemical industry, agriculture, construction materials (marble, travertine, glass, doors), furniture, industrial machines (machine-tool), etc.

22-23 August 2016 the first meeting of joint intergovernmental commission on economic cooperation between Kazakhstan and Serbia was held in Belgrade. After the negotiations both sides signed final Protocol and «Agreement on the Establishment of the Business Council». The Second meeting of joint intergovernmental commission on economic cooperation between Kazakhstan and Serbia took place in Astana on October 8, 2018.

Twenty-four Serbian companies are working in Kazakhstan, mainly in wholesale and retail trade, and construction of residential and non-residential buildings sectors. Successful experience in the market of Kazakhstan has a Serbian company "Energoprojekt-Visokogradnja", which built several metro stations in Almaty, as well as administrative and residential buildings, medical facilities and oil depots in regions of Kazakhstan. In May 2016 the company completed construction of the private bank "Forte-Bank" in Astana.

According to the results of the agreements reached during the top-level bilateral visits, the construction and investment company Dana Holdings begins the construction of a multifunctional residential complex «BK Tesla Astana» in the spring of 2019. In October 2018, Serbian President Alesandar Vucic and Kazakhstan Prime Minister Bakhitzhan Sagintayev took part in the ceremony of laying the foundation stone for this project.

In December 2016, the company «Zhol zhondeushi» purchased Serbian company "ZGOP" (major maintain and and construction of railway lines in Serbia). The purchase price was 3,6 million euros. Within 2 years the Kazakhstan's investor intends to invest about 9,6 million euro into the development of the company. As of February 2019, the Kazakhstani investor has fulfilled all contractual obligations, having invested about 10 million euros in the development of the company.

Created at : 18.04.2017, 17:05, Updated at : 18.04.2017, 17:05