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Tenge strengthens in Q1

The situation on Kazakhstan’s foreign exchange market remains stable. In the first quarter of 2017, the tenge strengthened by 5.9 percent. In February, its level compared to the currencies of its main trading partners was 17.8 percent below the base period, said National Bank Chairperson Daniyar Akishev during an April 18 government meeting.

He noted the National Bank is constantly analysing the competitiveness of the economy, the main indicator of which is a real effective exchange rate.

“In February 2017, the level of real effective exchange rate of the tenge compared to currencies of the trading partner countries was 17.8 percent below the base period; against the currencies of the CIS (Commonwealth of Independent State) countries – 11.6 percent lower; compared to currencies of other countries – lower by 20.1 percent. The competitiveness of domestic producers is preserved both in relation to CIS countries and to other countries,” said Akishev.


Kazakh economy grows 3 percent in Q1

In the first quarter of 2017, Kazakh economic development followed the recovery of consumer and industrial activity of the country’s key trade partners – the European Union (EU), China and Russia, according to Minister of National Economy Timur Suleimenov.

“The IMF (International Monetary Fund) expects that the economic activity either in developed or developing countries will accelerate at the level of 3.4-3.6 percent this year as evidenced by the world economic projections. Particularly acute in the first half of 2016, the external downside risks for the economy of Kazakhstan such as the fall of raw commodities prices and the stagnation of the trade partners economies have completely ended by now,” he said.

Suleimenov added since the beginning of the year the oil price has stabilised at the level of $54.10 a barrel, the metals price index has gone up by 5.2 percent and after a long decline, the Russian economy is expected to grow by 1.1 percent this year, while the Chinese economy is anticipated to increase by 6.5 percent.

“Preliminary figures indicate that in the first quarter of 2017 the country’s GDP has risen by 3 percent, whereas in the same period of the last year it insignificantly declined. The economy growth drivers were industry, construction, transport and trade,” he noted.

The intensive growth at the industrial level was observed in the first quarter this year, he added. Industry demonstrated positive results with a 5.8 percent rise against 0.8 percent decline in the same period of 2016. For the reported period, the overall production has increased by 5.6 percent against a 1.5 percent reduction in the same period of 2016 owing to the increase in production of oil by 5.2 percent, iron ore by 11.4 percent and coal by 17.4 percent. (economy.gov.kz)


Kazakhstan to launch radar satellite

Kazakhstan plans to replace KazSat-2 and launch a radar satellite, according to Vice Minister of Defense and Aerospace Industry Marat Nurguzhin, speaking at the roundtable meeting on “Cooperation of Russia and Kazakhstan: Traditions of Winners, History and Modern Times.” 

“We have a plan of replacement of satellites. Each satellite has its own service life. By 2023, we will have to replace KazSat-2. Besides, we have the Earth remote sensing system. We are planning to discuss the opportunity of launching an all-weather radar satellite that will work round the clock,” he said.

The ministry is currently discussing an investment project to replace KazSat-2 with KazSat-2-P, he added. The cost of KazSat-2-P is unknown.

Nurguzhin added the launch pad and assembly-testing complex at Baikonur Cosmodrome would be transferred to the Baiterek enterprise.

The rockets for the Baiterek complex will be supplied by the Russian Federation. Their launch is scheduled approximately for 2024, although implementing the project may be accelerated. (mdai.gov.kz)


Astana hosts 8th meeting of Kazakhstan-China Cooperation Committee

Kazakh First Deputy Prime Minister Askar Mamin held talks with Chinese State Council Vice Premier Zhang Gaoli as part of the 8th meeting of the Kazakh-Chinese Cooperation Committee (KCCC) in Astana, reported primeminister.kz.

The parties discussed the state and prospects of comprehensive strategic partnership and topical issues of bilateral relations, including trade-economic, energy, industrial-innovative, scientific-technical, financial, transport-logistics, agricultural, military-technical, cross-border and regional cooperation.

The leaders stressed the importance of implementing the cooperation plan on integrating Kazakhstan’s new Nurly Zhol economic policy with China’s Silk Road Economic Belt signed in September by Kazakh and Chinese leaders and the joint Kazakh-Chinese programme of industrial and investment cooperation.

Speaking at the meeting, Mamin noted the dynamic development of comprehensive strategic partnership between Kazakhstan and China. He also emphasised the importance of the Kazakh-Chinese programme of industrial-innovative cooperation.

“The implementation of the cooperation plan on integration of the Nurly Zhol programme with the Silk Road Economic Belt initiative opens great prospects for our countries in developing transit-transport cooperation, trade and the manufacturing industry,” said Mamin (primeminister.kz)


Sagintayev meets Chinese State Council Vice PM in Astana

Prime Minister Bakytzhan Sagintayev met with Chinese State Council Vice Premier Zhang Gaoli. The sides discussed the interaction of the two countries in the trade-economic, scientific-technical, financial, energy and cultural-humanitarian sectors and transit-transport and infrastructure interaction, including planning large joint projects and developing long-term programmes.

The leaders particularly noted prospects of cooperation in agriculture, promoting export of Kazakh products to Chinese markets and water relations, as well as use and protection of trans-border rivers.

Commodity turnover between Kazakhstan and China in 2016 was $7.9 billion; export from Kazakhstan to China was $4.2 billion and import was $3.7 billion.

The volume of export from Kazakhstan to China in physical terms rose by 20.4 percent without regard to oil and uranium.

China is one of Kazakhstan’s main investment partners. During the period 2005-Feb. 1, 2017, the inflow of direct investments from the Chinese to the Kazakh economy was $13.9 billion. In the same period, Kazakhstan invested $519.7 billion in China.

As of Feb. 1, there were 2,783 Kazakh-Chinese enterprises in Kazakhstan.

China became one of the first countries to confirm its participation in EXPO 2017 in Astana. The country’s pavilion is expected to be among the largest at the exhibition.

The year 2017 was declared the Year of Tourism of China in Kazakhstan. (primeminister.kz)


Information Minister Abayev discusses bilateral and multilateral cooperation in Minsk

Kazakh Minister of Information and Communications Dauren Abayev paid a working visit April 17-18 to Belarus, reported the ministry press service.

During the trip, Abayev visited the country’s High Technology Park. The meeting with the management team resulted in an agreement on close cooperation and experience exchange between the park and Kazakhstan’s Zerde Holding.

The minister also attended the 52nd session of the Regional Commonwealth in the field of Communications communication administration and 23rd session of the Commonwealth of Independent States (CIS) countries coordination council on informatisation.

Abayev held a number of bilateral meetings with the communication administration heads of Azerbaijan, Russia and Uzbekistan and International Telecommunication Union Secretary-General Houlin Zhao.

He participated in a session of the heads of the Eurasian Economic Union (EAEU) competent authorities dedicated to a digital agenda to discuss issues of joint digital projects development. (mid.gov.kz)



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