The Chamber of International Commerce of Kazakhstan and the East Chamber of Commerce and Industry of Norway Agreed to Establish a Business Council

On December 3, 2024, a significant event in the development of Kazakh-Norwegian business relations took place. It was the signing of an agreement between the Chamber of International Commerce of Kazakhstan and the East Chamber of Commerce and Industry of Norway (EAST CCI of Norway) on the establishment of the Business Council. On behalf of the Kazakhstan side, the document was signed by Mr. Murat Karimsakov, Chairman of the Board of the Chamber of International Commerce of Kazakhstan. On the Norwegian side, the agreement was signed by Marit Hiim Haugseth, Chairman of the Board of Directors of EAST CCI of Norway and Senior Advisor to the Norwegian Fishermen's Association.

The event was held in an online format. During the meeting, key aspects of the establishment of the Kazakhstan-Norway Business Council were presented, the main purpose of which will be to strengthen bilateral cooperation, attract investment, and implement joint projects in such strategic areas as:

• Energy (including renewable energy sources),
• agriculture,
• innovation and digitalization, ecology and sustainable development.

According to the Ministry of Trade and Integration of the Republic of Kazakhstan, trade turnover between Kazakhstan and Norway for January-September 2024 amounted to 94.5 million U.S. dollars. During this period, exports from Kazakhstan to Norway increased by 20.4% and amounted to 3.5 million U.S. dollars.

Murat Karimsakov noted that the signed agreement will be a starting point for deepening the interaction between the business communities of the two countries. The new business council will provide a platform for dialogue, B2B and B2G meetings, exhibitions, and business forums.

“Today's event is a confirmation of our joint commitment to sustainable development and successful partnership. We are confident that the Kazakhstan-Norway Business Council will become an effective tool for implementing joint initiatives and strengthening economic ties,” Murat Karimsakov emphasized.

The signing of the agreement marks a new stage in the development of economic relations between Kazakhstan and Norway, opening new opportunities for business and investment.