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Don Townsend is ITA’s Senior Business Officer on the U.S. Consulate in Almaty, Kazakhstan
In only a few months, the Worldwide Commerce Administration (ITA) will lead the U.S. Authorities’s largest annual commerce mission throughout Europe and Eurasia aimed to construct partnerships and facilitate offers with worldwide patrons and distributors. Commerce Winds Europe/Eurasia can have mission stops in six international locations and have a various vary of U.S. companies representing a wide range of completely different industries—from clear applied sciences to protection to retail—for tailor-made matchmaking conferences, networking alternatives, and one-on-one conferences with ITA’s industrial diplomats. Commerce Winds Europe/Eurasia will go to Almaty, Kazakhstan from Could 16-17, 2024.
With the biggest financial system in Central Asia, Kazakhstan is an more and more vital buying and selling accomplice to the USA. In 2022, U.S.-Kazakhstan bilateral commerce reached $3.7 billion, an almost 50 p.c improve from 2021, with U.S. exports rising to just about $1.1 billion throughout a wide range of sectors, together with equipment, prescription drugs, electronics and autos.
With over 600 U.S. corporations working within the nation, Kazakhstan can be rising as the first enterprise, transport and logistics hub of Central Asia. The nation affords a gateway to a market of about 150 million shoppers amongst Caspian Sea international locations, 50 million in Central Asia and 300 million in Western China, linking the big, fast-growing markets of China and South Asia with Western Europe.
In 2015, the Authorities of Kazakhstan launched the Nurly Zhol initiative – an almost $9 billion endeavor to develop and modernize roads, railways, ports, airports and IT infrastructure. This infrastructure funding presents alternatives for U.S. corporations throughout a wide range of sectors to offer items, companies and experience as Kazakhstan additional solidifies its place as Central Asia’s premiere transit hub.
Kazakhstan additionally has ample mineral sources. It’s the world’s largest uranium producer, third largest titanium producer, and eleventh largest gold producer. In whole, the mining sector accounted for an estimated 17% of Kazakhstan’s gross home product in 2022. Kazakhstan has nice potential for producing essential minerals and uncommon earth components, that are ever more and more in demand as international locations and industries shift to utilizing extra renewable power sources.
Moreover, agriculture and water administration current potential alternatives for U.S. corporations trying to discover or develop within the Kazakhstan market. Agriculture has traditionally been an vital driver of the nation’s financial manufacturing, accounting for five.1% in 2022. The Authorities of Kazakhstan has additionally introduced that it intends to speculate an annual common of $530 million to water administration between 2021-2030 to modernize its wastewater remedy services and enhance sections of assorted canals and evaporation fields. The Asian Improvement Financial institution and European Financial institution for Reconstruction and Improvement will allocate a mixed $686 million to assemble and modernize sewage remedy services in cities throughout the nation, which presents alternatives for U.S. companies to bid on tenders for items and companies.
Given the vital alternatives and immense potential for elevated industrial engagement, Almaty was chosen as one of many six mission stops for Commerce Winds Europe/Eurasia. Whereas the mission cease in Almaty is at capability, events can nonetheless register to attend the Enterprise Discussion board in Istanbul, Türkiye and meet with me to be taught extra in regards to the market. For extra data, please go to the Commerce Winds Europe/Eurasia webpage.
