Kazakh President Nursultan Nazarbayev has instructed his ministers, "Close major economic deals with the ministers and businesspeople," accompanying Israel's president Shimon Peres on his visit to Kazakhstan. Among the proposed deals are partnerships with VC funds, government R&D funds, setting up jointly-owned factories, and signing agreements and deals between private companies.
The Kazakh minister of industry and trade told "Globes" that his country's main interest is in Israeli high-tech developments and that Kazakhstan had invested $5-10 million in Israeli VC fund Vertex Venture Capital. The minister said that 52 Israeli companies are currently working in Kazakhstan, although there was room for many more.
President Nazarbayev told President Peres that his historic visit had opened "a wide door for deepening economic relations" between their two countries.
During the visit, the two countries signed an agreement for space cooperation. Israel is interested in using Kazakhstan as a base for launching satellites. An Israeli satellite has already been launched from there. Kazakhstan may also be interested in Israeli satellites, which are considered of a high quality but relatively inexpensive.
Published by Globes [online], Israel business news - www.globes-online.com - on June 30, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009