EAEU countries' automotive enterprises have strong potential for cooperation

03.02.2023

EAEU countries' automotive enterprises have strong potential for cooperation

This was stated by Artak Kamalyan, Minister in charge of Industry and Agriculture of the Eurasian Economic Commission, during his visit to one of the key car manufacturing enterprises in Kazakhstan – Hyundai Trans Kazakhstan – in Almaty.

The working meeting at the plant’s venue discussed issues of cooperation between enterprises of the Eurasian Economic Union countries, in particular, the need to expand supplies of automobile engineering components manufactured in the EAEU States to enterprises of the Republic of Kazakhstan.

During the visit, there was an exchange of opinions on a wide range of sector-related issues, including those related to the participation of Kazakhstani automotive enterprises in state procurement of other EAEU countries, issues of vehicle certification, and prospects for involving national enterprises in developing e-vehicle production.

“Supporting the priority sectors of our countries' economy, in particular the automotive industry, through the integration potential is an important condition for creating new and deepening existing cooperation projects, which is particularly important in the current economic situation associated with a general economic downturn and the foreclosure of a number of foreign markets”, EEC Minister noted.

For reference

The Hyundai Trans Kazakhstan plant for the manufacture of passenger vehicles is a strategic object of the automotive industry of the Republic of Kazakhstan. The enterprise is equipped with state-of-the-art equipment manufactured in South Korea. High quality standards at the enterprise are ensured by experienced mechanical engineering specialists under the supervision of the Company's engineers.

In 2022, the Hyundai Trans Kazakhstan plant manufactured 37,205 vehicles. The increase in production was 43% compared to 2021. The Company supplied 82% of vehicles to the internal market of the country, the rest was exported to the CIS countries. The plant manufactures nine Hyundai models - Tucson, Accent, Sonata, Elantra, Santa Fe, Palisade, Staria, i30, and Bayon.

In general, according to the Bureau of National Statistics, in 2022 Kazakhstan manufactured 113,925 vehicles of all types, which is 21.9% more than in 2021. The cumulative result of the automotive industry in monetary terms amounted to 1.2 trn tenge.

Information Support Section of the EEC Organizational Support and Protocol Department