Czech Republic eager to invest in Kazakhstan’s agro-industrial sector

Kazakhstan and the Czech Republic intend to bolster cooperation in the agricultural sector. The Czech Republic is interested in investing in new joint ventures focused on processing raw materials and food production in Kazakhstan. The parties discussed promising projects at the Kazakhstan-Czech Business Forum in Astana. To learn more about the potential of the domestic agricultural industry, the Czech delegation first visited the Akmola region before holding a series of meetings in the country’s capital. Now they are set to visit the Turkistan region.

“Our cooperation will primarily concern agriculture and the food industry. I am delighted to witness Kazakhstan’s support for the development of the agricultural field. Also, we’re extending our partnership in other areas, including genetics and mechanical engineering. I’m aware of Kazakhstan’s intentions to develop new farms using modern agricultural technologies, and once again, the Czech Republic is ready to assist you in this. That is why our delegation also included representatives of the academic and scientific spheres from our universities,” shared Czech Minister of Agriculture Marek Výborný.

The figures also demonstrate that the agricultural sector is one of the most attractive areas for bilateral partnership. The trade turnover of agricultural products between Kazakhstan and the Czech Republic increased by 40 percent to $12 million this year. In general, the Czech Republic is one of Kazakhstan’s strategic partners among the Eastern European states. In 2022, Czech business circles invested $20 million in Kazakhstan.

“Overall, $2.8 billion has been invested throughout Kazakhstan’s history, and more are still to come. Kazakhstan serves as a big logistical hub for European countries, and we hope that investments will continue to grow each year. Kazakhstan and the Czech Republic have great potential for cooperation namely in areas such as machine building, metallurgy, manufacturing, and, of course, agriculture,” said Altynai Mukanova, head of cooperation with European countries at the Kazakh Invest national company.