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Trade and integration minister on changes in Kazakh export market during pandemic

10 June 2021 17:06

NUR-SULTAN. KAZINFORM – The economic and social changes due to the COVID-19 pandemic colossally hit the global trade and Kazakh exports in particular, decreasing their numbers and geography, Kazakh Trade and Integration Minister Bakhyt Sultanov said, Kazinform correspondent reports.

During the pandemic in 2020 the number of countries Kazakhstan has been exporting products for the last three years reduced from 190 to 119. The number of exporting items fell by six.

According to the minister, those were due to the changes in value chains, sanction wars between the major economies, quarantine restrictions on commodity export and import imposed by the partners

He added that new markets such as Cameroon, Sudan, Salvador, Nicaragua and others were opened.

«Agricultural trade was least affected by quarantine restrictions and setbacks in supply chains. Rush in buying basic foods enabled Kazakhstan to increase its agricultural exports by more than 18%. However, there was a 20% decline in the demand for non-food products,» said the Kazakh trade and integration minister.

Notably, the 33rd plenary meeting of the Council of Foreign Investors under the chairmanship of Kazakh President Kassym-Jomart Tokayev is taking place online.

Keywords: Economy, Events, Kazakhstan,