Almaty - business center of Eurasian Economic Union

Almaty - business center of Eurasian Economic Union

Almaty is selected as a business center both Kazakhstan and the Eurasian Economic Union.

The main financial institutions are located there. All trade routes lead to Almaty as well. A third of the country’s small and medium-sized businesses are also located there.

In the future, Almaty will continue to strengthen its importance in the Eurasian platform, experts believe.

Experts said that Almaty accounts for nearly 20% of the GRP. The city can count on additional preferences that will emerge with the formation of a single financial market.

Almaty accounts for 27% of Kazakhstan’s total trade turnover with the EAEU member countries. In the first four months of this year alone, the trade turnover amounted to US$5.2 billion.

Today, with support of the state, new enterprises are being launched in Almaty which will produce consumer goods for export.

According to the official statistics, the main oil companies are registered in Almaty, including oil and petroleum products.

Moreover, beverages, confectionery products from cocoa as well as confectionery products from sugar are also produced in Almaty.

The active economic life of the city has a positive effect on development of business tourism.

Last year, nearly 300 hotels and hostels welcomed approximately two million foreigners, mostly from the EAEU member countries. In 2018, the city budget was increased by 25 billion Tenge.

Experts have assigned Almaty a special role. According to their estimates, the first five-year plan of the economic union can definitely be called successful.

Furthermore, the EAEU member countries need to continue working on creating conditions for free and profitable trade in the common market.