Kazakhstan - Belgium Business Council bolsters trade and economic cooperation

Belgium Business Council took place on June 5 bringing together high-ranking representatives of business communities of Kazakhstan and Belgium, and diplomatic missions of the two nations, Azernews reports, citing Kazinform.

The Astana meeting became an important platform for debating common interests and strengthening constructive cooperation between Kazakhstan and Belgium.

Baiterek Holding CEO Kanat Sharlapayev expressed full support and assistance to Belgian companies considering doing business in Kazakhstan. As of today there are over 70 enterprises in Kazakhstan with the participation of Belgian capital, including large companies such as Solvay Chemicals International SA, Sarens Group, and Evolion. He expressed hope that new companies interested in doing business in Kazakhstan will enter the country’s market.

The gross inflow of direct investments of Belgium in Kazakhstan in 2021 made 1.560 billion US dollars, between 2005-2023 the volume of investments reached 11.52 billion US dollars. Belgium is an important trade partner of Kazakhstan in the EU and a significant source of investments and new technologies. In 2022 the sales between the nations hit 514.5 million US dollars which is 23% more as compared to the previous year.