Astana. KAZINFORM United Arab Emirates (UAE) is one of Kazakhstan’s important partners in the Middle East. The press service of KAZAKH INVEST reported that several intergovernmental agreements aimed at deepening economic and trade cooperation and promoting and protecting mutual investment have been drawn up.
In 2021, the trade volume between the two countries will increase by 66% compared with 2020, reaching 709 million US dollars. In the first nine months of 2022, this figure reaches $558 million. Among them, Kazakhstan’s export value was 519 million US dollars, and the import value was 39 million US dollars. The main products exported by Kazakhstan are copper and copper cathodes, barley, mutton and lamb.
Since 2011, the direct investment inflow from the UAE to Kazakhstan has totaled approximately US$2 billion. Currently, the UAE’s commercial portfolio in Kazakhstan includes 25 projects with a total value of US$5.3 billion. These projects include launching a poultry farm in the Almaty region (Falah Growth fund), expanding the power capacity of TEC-3 Karaganda (Falah Growth Fund), launching a food crop processing enterprise in the Akmola region (Phoenix Global DMCC), etc.
Promising investment projects in the fields of oil and gas, food industry, civil infrastructure and finance will be discussed during the upcoming investment roundtable in Abu Dhabi under the auspices of «NC «KAZAKH INVEST» JSC. A number of commercial documents are also expected to be signed, with bilateral talks between leading companies from both countries.
Photo: invest.gov.kz