On November 29-30, 2018, the annual congress of retailers in Kazakhstan, EXIM BIG DEALS’18 - Forum of Large Deals, took place in Almaty.
The forum was attended by the leaders of Kazakhstan and international retail, domestic and foreign manufacturers and suppliers of food and consumer goods.
On behalf of the Ministry of National Economy of the Republic of Kazakhstan, Aslanbek Dzhakupov, Director of the Enterprise Development Department, spoke.
The speaker noted the importance of an open and effective public sector dialogue with the business community of Kazakhstan.
Within the framework of the forum, industry leaders discussed possible scenarios for the development of the retail market in Kazakhstan in the context of a new reality, in order to find with the authorities and create the most favorable conditions for the development of fair competition and efficiency growth in the interests of end consumers.
The first day of the forum was devoted to the new realities of the market in the context of fluctuations in the exchange rate and its impact on the prices of domestic producers, whose production includes the costs of imported components.
According to A. Dzhakupov, today in Kazakhstan the share of imported goods in the structure of the consumer price index is about 24%, the share of imported non-food products is more than 15%, indicating a possible negative impact of the rate fluctuations on inflation.
In conclusion, A. Dzhakupov noted the importance of another tool for minimizing the risks associated with fluctuations in the tenge exchange rate - hedging (insurance of currency risks). The purpose of currency hedging is to protect against adverse changes in the exchange rate.
The second day of the forum was devoted to discussing the introduction of new technologies, including the Virtual Warehouse module, as well as new amendments to trade legislation. The discussion was attended by top managers of the largest retail chains, distributors, manufacturers.
During the dialogue, the speaker noted the relevance and importance of this area in the light of the government’s policy of digitalization.
In general, according to the speaker, two components are important for business: not to interfere with business operations, that is, not to create artificial administrative barriers in the form of additional tax collections, inspections, etc. The second is financial support from the state for business.
At the end of the forum, A. Dzhakupov thanked the participants for the productive discussion and noted that holding such meetings is an excellent opportunity to build a constructive dialogue between business and the state.