Kazakhstan and India plan to increase the volume of mutual trade to $1 billion in the near future and to $3 billion in the longer term, Indian Ambassador to Kazakhstan Sailas Thangal said, Report’s Kazakhstan bureau informs via Kazinform.
According to him, political relations between the two countries are developing with positive dynamics, but trade and economic cooperation still does not correspond to the existing potential. Transport connectivity, the state of infrastructure, and customs issues remain the main obstacles.
The diplomat noted that contacts between the business communities of the two countries have intensified.
According to the ambassador, a delegation comprising representatives of 46 Indian pharmaceutical companies visited Kazakhstan and held meetings with around 200 representatives of local businesses. In turn, around 112 Kazakh entrepreneurs from 70 companies participated in a business forum held in India.
Thangal emphasized that Kazakhstan can supply India with oil, uranium, and other mineral resources. India, for its part, has the potential to expand exports of pharmaceutical products, food products, and electronics.
Currently, around 600 companies with Indian capital operate in Kazakhstan.
