OREANDA-NEWS. May 26, 2014. Yerbolat Dossayev met the Director General of PatentesTalgo Jose Maria Oriol Fabra. Kazakh-Spanish relations have been developing steadily.

Head of Kazakhstan MEBP reminded that the trade turnover between the two countries amounted to about USD 2.4 billion in 2013, which is 2.4 times higher than in 2012. Inflow of direct investment from Spain to Kazakhstan was more than USD 170 million from 2005 to 2013, the amount of Kazakh investments in Spain during the same period amounted to USD 10 million.

The Minister also stressed the importance of cooperation with Spanish companies, including PatentesTalgo, which is of particular importance for the provision of quality services to the public rail transport.

He noted that Kazakhstan has currently developed a new package of incentives to investors that include entitlement for attracting foreign labour for the duration of the investment project, establishment of a visa-free regime for citizens of the most developed countries for 90 days, provision of investor visas to the heads of structural units of foreign companies.

It is also expected to increase the term of lease of agricultural land to foreigners, in case of their investment to conduct farm-market agriculture.

"Given that Spain is one of the world's largest investors, we expect significant increase of investor activity in Kazakhstan," Dossayev stressed.