KAZAKHSTAN, INDONESIA DISCUSSING NOODLE, TIRE FACTORY CONSTRUCTION

Kazakhstan Ambassador to Indonesia Ashkat Orazbay (Photo: thejambitimes)" width="270" height="300" /> Kazakhstan Ambassador to Indonesia Ashkat Orazbay (Photo: thejambitimes)

Jakarta 16 Safar 1436/9 December 2014 (MINA) – Kazakhstan Ambassador to Indonesia Ashkat Orazbay stated that negotiations were in progress between Kazakhstan and Indonesia after the signing of contracts for the construction of noodle and tire factories.

“Multistrada Indonesia and a Kazakhstan-based company sign a contract to build a tire factory. Indonesian food producer PT Indofood and a Kazakh company sign memorandum of understanding  to open an instant noodle factory,” Ashkat Orazbay said on Monday.

He remarked that the two parties were discussing technical, financial, and marketing aspects, antaranews quoted by Mi’raj Islamic News Agency (MINA) as reporting on tuesday.

Orazbay expressed his hope to realize the plan as soon as possible.”The value of the contract is still under discussion, Orazbay added.

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According to Akshat, the two countries have agreed to open direct flight services on the Denpasar-Almaty route, and vice versa.

Kazakhstan is the third largest wheat producer in the world. The country have the best wheat quality.

Kazakhstan has the largest and strongest performing economy in Central Asia. Supported by rising oil output and prices, Kazakhstan’s economy grew at an average of 8% per year over the past decade. Kazakhstan was the first former Soviet Republic to repay all of its debt to the International Monetary Fund, 7 years ahead of schedule.

Buoyed by high world crude oil prices, GDP growth figures were between 8.9% and 13.5% from 2000 to 2007 before decreasing to 1–3% in 2008 and 2009, and then rising again from 2010. Other major exports of Kazakhstan include wheat, textiles, and livestock. Kazakhstan predicted that it would become a leading exporter of uranium by 2010, which has indeed come true.

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Kazakhstan’s fiscal situation is stable. The government has continued to follow a conservative fiscal policy by controlling budget spending and accumulating oil revenue savings in its Oil Fund – Samruk-Kazyna. The global financial crisis forced Kazakhstan to increase its public borrowing to support the economy. Public debt increased to 13.4 per cent in 2013 from 8.7 per cent in 2008. Between 2012 and 2013 the government achieved an overall fiscal surplus of 4.5 per cent.(T/P009/R03)

Mi’raj Islamic News Agency (MINA)

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