OREANDA-NEWS. February 15, 2010. “According to some estimates of international organizations, in 2010 we are likely to see recovery of the global economy. Growing demand for commodities will spur production output in export-oriented sectors of the Kazakhstan’s economy, mainly in mining and related industries”, said Economy Minister Bakhyt Sultanov when speaking at the 2nd sitting of the Kazakh-French Business Council.

The Minister noted that plans are there to accelerate the real GDP growth up to 1.5-2% in 2010 from the 1.1% in 2009… “Crude production output is expected to grow by 4.7% in 2010, with industrial production output growing by 3.2%”, the Minister said.

He called French business to actively participate in a raft of projects included into the Industrialization Map Program.

The Minister reminded that in 2009 11 investment projects totally worth Euro 1.2 billion had been placed in operation within the said Program. “The projects resulted in creating 1 327 new jobs. The country has expanded its exports capacities and reduced dependence on some imported goods and services”, he elaborated.

According to the Minister, the Industrialization Map Program for 2010 is to be finalized by the end of Q1 2010.

“As of the end of last year, France ranked 4th among trade partners of Kazakhstan after China, Russia and Italy. According to Kazakhstan’s Agency for Statistics, the bilateral trade turnover in 2009 stood at USD 3.8 billion”, the Minister informed.

“France is one of the largest investors. Its investments into the Kazakhstan’s economy from 1993 to September 2009 totaled almost USD 5.5 billion”, Mr. Sultanov said, adding that the two nations have been successfully developing cooperation in energy, transport and space exploration realms.