site.btaBulgaria, Kazakhstan Interested in Developing Joint Ventures

121 ECONOMY-KAZAKHSTAN-BULGARIA-TRADE

Bulgaria, Kazakhstan Interested
in Developing
Joint Ventures

Astana/Sofia, May 21 (BTA) - Trade and economic relations
between Bulgaria and Kazakhstan have a greater potential for
development than the existing levels, Economy Minister Bozhidar
Loukarski and Kazakhstan's Minister of National Economy,
Yerbolat Dosaev, agreed at a bilateral meeting in Astana, held
on the sidelines of the 8th Astana Economic Forum, Loukarski's
ministry told BTA Thursday.

"Bulgaria can be a door for Kazakhstan to the EU market not only
because of its geographical proximity, but also because of the
closeness between the two peoples," Dosaev said. He also said a
trade agreement between his country and the EU is to be signed
soon. The export and processing of agricultural produce and
pharmaceuticals have a considerable potential, he noted. In his
opinion, Bulgaria has experience, traditions and technologies in
the agricultural sector, which could be used to establish joint
ventures with Kazakh capital and Bulgarian technologies and
equipment.

Bulgaria is attractive with some of the lowest taxes in the EU -
10 per cent flat tax, Loukarski pointed out.

Dosaev also underscored that Kazakhstan offers good conditions
for investment such as a tax-free ten years after launching a
business.

Dosaev also pointed out that in the field of tourism not only
tourists from his country visit Bulgaria but that also many of
his compatriots have properties along the Black Sea. In relation
to this, Loukarski suggested active work for regular flights
between Kazakhstan and Bulgaria.

Later, Loukarski met with representatives of two Bulgarian
companies operating in Kazakhstan - TAL Engineering Kazakhstan
and Prime Solar.

Bilateral trade between Bulgaria and Kazakhstan in recent years
has been dependent on the import of Kazakh oil and gas, and has
been under the influence of the world economic crisis. In 2014
trade between the two countries dropped by 8.2 per cent compared
to 2013, with Bulgarian exports increasing by 2.6 per cent and
imports declining by 16.4 per cent./VI/BR