Bi-Weekly Economic News Summary

KAZAKHSTAN - In Brief 02 Nov 2023 by Evgeny Gavrilenkov
Oct 20 Bereke Bank: An investor from Qatar is evaluating Kazakhstani Bereke Bank (a former subsidiary of Russian Sberbank). The aim is to propose the Kazakh government to purchase the controlling stake in the institution. Ministry of Trade: The Government confirms that there is no ban on exports of goods from Kazakhstan to Russia, but there is a special export regime for various goods as Kazakhstan complies with restrictions associated with Western sanctions. Oct 23 Oil transportation: According to the Foreign Ministry, Kazakhstan and Croatia will start negotiations on increasing exports of Kazakh oil through the Adria oil pipeline. Banking supervision: Kazakhstan plans to liberalize the requirements for foreign investors to enter the banking sector. EU: The Foreign Ministers of the EU countries and Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan counterparts approved the roadmap for expanding cooperation. Car production: The production of motor vehicles in Kazakhstan increased in 9M23 by 39.2% y-o-y to 109.6 ths units. Oct 24 Oil transportation: During the next six months, the national pipeline company KazTransOil intends to export at least 80K tons of Kashagan oil per month via the Atyrau-Samara pipeline. Oct 27 Energy Ministry: Kazakhstan can increase oil exports to Germany via the Druzhba pipeline up to 2 mln tons per year versus the current 1.2 mln tons. Moody’s: The rating agency has confirmed the rating of Kazakhstan at Baa2 and changed the forecast from neutral to positive. Energy Ministry: The contract between the national gas company QazaqGaz and PetroChina provides for the possibility of exporting Kazakh gas up to 10 bcm per year. Oct 28 Pre...

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