Basque companies are interested in the Eurasian markets to present and introduce their products

They are looking for new business opportunities

Five Basque companies are participating in the trade delegation to Kazakhstan and Kyrgyzstan, organized by the Bilbao Chamber of Commerce from March 27 to 31.

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Five Basque companies participate in the trade delegation to Kazakhstan y Kyrgyzstan organized, from March 27 to 31, by the Bilbao Chamber with the collaboration of the Chambers of Álava and Gipuzkoa and the support of Department of Economic Development and Infrastructure of the Basque Government.

 

The main objectives of the mission are to help get to know these two countries of the Central Asia to companies looking for new business opportunities outside of traditional market niches.

 

Kazakhstan It is a country located in the center of the Eurasian continent with an area of ​​2.7 million km2, which is highly dependent on its mineral resources, the main source of economic growth, and has considerable oil and gas reserves.

 

The sectors of opportunity for SMEs are mainly in the energy, infrastructure, construction, and tourism sectors.

 

Basque Country-Kazakhstan trade balance

 

In 2016 the exports to Kazakhstan (€24 million) decreased by 29,10% compared to 2015 (€34 million). Exports included radio detection and navigation equipment, railway vehicle parts, and rubber tires. Imports, on the other hand, increased significantly compared to 2015, rising from €2 million to €23 million.

 

Kyrgyzstan, a country bordering Kazakhstan, has a surface area of ​​almost 200.000 km2 and a population of 6 million. It is a small economy, but with strategic importance that makes it a market of interest. China It is its main supplier and the one that makes the most investments in this Eurasian republic.

 

business and investment opportunities They are involved in the construction, supply, and assembly of equipment for electricity generation and distribution, mining, and agriculture sectors. Furthermore, it is a country where solar and hydropower have significant potential.

 

Basque Country-Kyrgyzstan trade balance

 

In 2016, exports to Kyrgyzstan decreased by 97% compared to 2015 (from €0,62 million to €0,02 million), while imports were minimal.