On May 31, 2023, the Vice-Minister of Trade and integration of the Republic of Kazakhstan Kairat Torebayev met with the Ambassador Extraordinary and Plenipotentiary of the Philippines to the Republic of Kazakhstan Igor Garlit Bailen, the press service of the Ministry of Trade and Integration of the Republic of Kazakhstan reports, El.kz cites the press service of the Ministry.
During the meeting, the Parties discussed the state and prospects of trade and economic cooperation, expressing a unanimous opinion that the current volume of bilateral trade does not correspond to its potential. The parties agreed to work together to increase the volume of bilateral trade. Kairat Torebayev, in turn, informed about the Export Acceleration Program, the purpose of which is to facilitate the entry of Kazakh non-commodity goods to the markets of third countries, being implemented by the Ministry jointly with «Center for Trade Policy Development «QazTrade» JSC. The Philippine side announced its interest in importing oil and oil products and supplying fish products, coconuts, etc. to Kazakhstan.
The trade turnover between Kazakhstan and the Philippines in January - April 2023 increased by 2.4 times compared to the same period in 2022 and amounted to 8.9 million US dollars