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Atameken Union & CII sign MoU on establishment of Joint Economic Council
24
Jan '09
India's invitation for Kazakhstan President Nursultan Nazarbayev as the chief guest for India's 62nd Republic Day's Celebrations has been taken as a welcome sign by Kazakhstan. We hope to extend the political ties into greater economic cooperation, which at present stands at minuscule figures of $180 million, Said Mr. Azat Peruashev, Chairman, Atameken Union.

He was speaking at Business meeting with Atameken Union Business Delegation from Kazakhstan organized today by the Confederation of Indian Industry (CII). The meeting marked the signing of an MoU on establishment of Joint Economic Council between Atameken Union and CII. The MoU signing was followed by and interactive assembly of trade representatives from both nations.

He reaffirmed that the country apart from allowing private and public enterprises to set up commerce exchanges in Kazakhstan, will be offering services of Special Economic Zones (SEZ) setups that are at present under construction. Once the construction of these zones is completed the government will come up with comprehensive taxation policy. He pointed out that the textiles entities can now also consider setting up operations out of presently in service textiles SEZ in the country.

Offering remarks, Mr. S. Sen, Principle Advisor, CII, highlighted CII's efforts in energising corporations to engage in more interactions. He said, "Both Atameken Union and CII should work towards identifying key sectors for economic cooperation. At present the thrust has been on sectors like Oil & Gas, Metallurgy, Agriculture, Pharmaceuticals, machinery, textiles, and the likes. But both the industry bodies should categorize sectors that offer future growth."

Earlier in the welcome address, Mr. Sandeep Garg, Member, CIS Committee, CII and President – Caspian Region The Punj Lloyd Group identified, Information Technology, tapping nuclear, solar and wind energy as India's expert sectors on which Kazakhstan can capitalize upon.

Confederation of Indian Industry (CII)

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