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10/31/07

Indo-Kazakh cooperation on dynamic rise, says envoy


Bilateral cooperation between Kazakhstan and India, especially in the energy sector, would see a dynamic rise in the immediate future, said Dr. Kairat Umarov, Kazakhstan's Ambassador to India.

Category: General
Posted by: admin

Addressing a select group of media persons, academics and experts at the Embassy of Kazakhstan on the occasion of the 10th anniversary of Kazakhstan 2030 and the celebration of its Republic Day, Ambassador Umarov said: "Our bilateral cooperation is on the dynamic rise."

"In 2006, the trade turnover between the two countries has increased by 74 per cent, reaching the 210 million dollar mark. Last year, Indian investment to Kazakhstan has increased to 16 million dollars," he added.

Appreciating India's constant support to Kazakhstan's overall development and economic progress, Dr. Umarov said Kazakhstan would make it possible to reach the next height of progress in 2030.

Energy-deficient India is keenly looking towards Kazakhstan as one of the countries that it would like to tap to meet its domestic demands.

India's energy demands are expected to reach nearly 3.5 million barrels per day (mbd) by 2010.

Kazakhstan, that is the nearest energy rich country, could be a significant source for India to meet its future energy security. According to a report released by the Washington-based Energy Information Administration, Kazakhstan has proven oil reserves of 13.8 billion barrels and 68.5 trillion cubic feet of natural gas deposits.

In the first half of the twenty first century, India will be one of the top five consumers of energy. Currently, most of India's import comes from the Persian Gulf region, but to enhance its energy security India needs to look at an alternative source of energy. In this respect the Caspian region can be an alternative source for India since this region is considered to have the proven reserves of 25 to 30 billion barrels of oil.

Extract from a news article by Ashok Dixit published on www.dailyindia.com on Oct. 30