France is among Kazakhstan’s key strategic partners given a 32.5 per cent rise in the 2018 trade turnover between Kazakhstan and France, totalling 4.5 billion US dollars.
In the six months of this year the trade turnover has stood at 2.3 billion US dollars, with exports making up 87.9 per cent or 2 billion US dollars. And, French goods and services’ imports have constituted 272.1 million US dollars or 12.1 per cent of the total trade turnover.
On 30 July this year Kazakh PM Askar Mamin met with French Economy and Finance Minister Bruno Le Maire to go over the current issues of and perspectives for trade and economic, investment cooperation between Kazakhstan and France.
The meeting highlighted the interest in further developing investment cooperation, carrying out joint projects in transport infrastructure, digital technology and HR, involving full support French investors could receive to open up joint productions, substitute imports and further export agro-industrial products.
The two countries successfully run joint ventures in machinery, production of building materials, medicines, food products. Energy and space, renewable energy resources, infrastructure development, Smart City projects are under way.
As of the end of July this year, 112 enterprises involving French capital, including Total S.A., Orano SA, Danone, Vicat SA, Peugeot and Alstom, have been operating within Kazakhstan.
France is also among Kazakhstan’s top 5 foreign investors as late May 2019 overall investments coming from France have totalled 13.8 billion US dollars (a year ago – 14 billion US dollars).
Most of the investments are found in the mining sector – 97 per cent or 13.4 billion US dollars, followed by transport and warehousing (163.9 million US dollars) and wholesale and retail trade, repair of motor vehicles and motorcycles (104.4 million US dollars). While such sectors as information and communication, education, health, social services, art, entertainment and recreation are at the bottom of a list of sectors with most investments from France.
Following the 1st quarter of this year, the gross inflow of investments from France to Kazakhstan has stood at 255.7 million US dollars, up by 21 per cent over the same period of the past year (211.3 million US dollars).
In 2018, the gross inflow of direct investments has amounted for 916.1 million US dollars, increasing by 14.1 per cent compared to the given period of last year (802.8 million US dollars).
Generally speaking, the amount of French investments in the Kazakh economy has exceeded 11 billion US dollars over the past 10 years.