DUSHANBE, September 30, Asia-Plus  -- Tajikistan and Kazakhstan ought to intensify their trade and economic cooperation and bring their bilateral trade to 500 million U.S. dollars in the nearest years, Kazakh Ambassador to Tajikistan Abutalip Akhmetov remarked at the Tajik-Kazakh business forum in Dushanbe on September 28.

“Over the first quarter of 2010, trade between the two countries has valued at US$47.9 million, including Kazakhstan’s exports to Tajikistan estimated at US$45.3 million and Kazakhstan’s imports from Tajikistan worth US$2.5 million,” Kazakh envoy said, noting that Tajikistan considers Kazakhstan as a country that is capable of making large investments in Tajikistan’s economy.  

He noted that bilateral cooperation between Kazakhstan and Tajikistan in sectors like energy, use of hydro resources, construction and metallurgy had good prospects for expansion.  “There is big potential for this, which is not used in full unfortunately,” Akhmetov said.

Establishment of a joint investment fund is a real example of investment cooperation between the two counties and 47 Kazakh-Tajik joint ventures are currently operating in Tajikistan, Kazakh diplomat said, adding that Kazakh business elite and banking sector are interested in getting into Tajikistan market.

The first deputy head of Tajikistan’s Camber of Commerce and Industry (CCI), Asanali Karamaliyev, noted that 55 investment projects for a total amount of more than US$1.8 billion were currently being implemented in various sectors of Tajikistan’s economy.  “14 national investment projects for nearly US$300 million, with US$173 million of them being grants, have been launched in the country this year alone,” Karamaliyev said.

Tajikistan’s private sector has urgent needs in foreign investments and preferential bank loans and the Kazakh-Tajik joint investment fund with authorized capital of US$100 million could help develop the private sector in the country, the CCI deputy head added.

According to Tajik CCI, negotiations between entrepreneurs from Tajikistan, Kazakhstan and Afghanistan took place in Dushanbe on sidelines of the business forum.