Oil & Gas

Romanian-Kazakh trade relations

Crude oil accounts for over 95% of imports

A meeting has taken place recently at the headquarters of the Chamber of Commerce and Industry of Bucharest (CCIB), between the President of the Chamber – Prof. Eng. Sorin Dimitriu, PhD, and His Excellency Daulet Batrashev, Ambassador Extraordinary and Plenipotentiary of the Republic of Kazakhstan in Romania, accompanied by Chingiz Kemel, Principal Secretary of the Embassy.

On this occasion, they discussed about the development of economic and trade relations with Kazakhstan, considered a priority within the foreign relations strategy of CCIB.

According to the President of the Bucharest Chamber, organization in Bucharest of a ‘Week of Kazakh products in Romania’, followed by an economic mission led by CCIB in Kazakhstan could be excellent formulas for a better knowledge of companies from the two countries, in order to identify business and investment opportunities, as well as projects with real chances of completion and with benefits for both sides.

“I am convinced that the chamber system can contribute to the dynamization and amplification of trade, and also of exchanges at the university level. We want a constant presence in the Kazakh market, so we are taking into account the opening by CCIB of a representative office in your country, doubled with a permanent exhibition with products and services provided by companies from Romania, according to a model that has been successfully tested in countries in the Persian Gulf region”, Prof. Eng. Sorin Dimitriu, PhD, has stated.

His Excellency Daulet Batrashev appreciated the potential of the Romanian market and expressed the interest of his country for the development of economic and cooperation relations with Romania. The Ambassador of the Republic of Kazakhstan has expressed his full openness to the projects presented by CCIB President, stressing the need to identify areas of interest for the companies of the two countries. The Ambassador of Kazakhstan spoke about the economy of his country, pointing out the real possibilities of collaboration, especially in: information technology and communications, oil and gas industry, infrastructure, agriculture, transport and health. HE Daulet Batrashev highlighted that Romanian businessmen interested to invest in Kazakhstan benefit from access to the markets of member states of the Euro-Asian Economic Union (Kazakhstan, Russian Federation, Belarus, Armenia and Kyrgyzstan).

In the first 11 months of 2017 (available data), the Romanian-Kazakh trade amounted to USD 1,152 million, (increasing by 31% compared to the similar period of 2016), of which imports from Kazakhstan amounted to USD 1,122 million (+36.9% compared to the previous year), and Romanian export to only USD 30 million (-49.6% compared to the similar period of 2016). Of the total of USD 1,122 million, 95.3% is represented by crude oil brought from Kazakhstan to be processed at Rompetrol Refinery in Navodari.

Related Articles

Back to top button