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Wednesday, September 18th, 2019

Briefing for media personnel on results of the official visit to the Kingdom of Saudi Arabia

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by October 25, 2016 Business

During the briefing Nursultan Nazarbayev summarized the main results of the visit to Saudi Arabia.

– During the visit more than 10 agreements worth over 60 billion tenge in the energy sector, mining industry, agriculture and trade have been inked. Of these, poultry farm in South Kazakhstan region and food production in the Akmola region in particular. Currently there are already 17 enterprises with the participation of Saudi Arabia in Kazakhstan, he said.

The President of Kazakhstan noted that the limiting factor for commercial exchange increase is logistical challenges.

– From this perspective, we have agreed to work out a roadmap for establishing bilateral intergovernmental commissions and working groups on economic sectors towards fruitful cooperation in the future. We have reached the agreement to create a collective investment fund in order to back joint projects in our country. The Saudi partners have also been invited to participate in the investment and innovation projects, and “Nurly Zhol” program. This is going to be a very good portfolio for cooperation to Kazakhstan’s betterment, Nursultan Nazarbayev emphasized.

In addition, the President turned attention to the promising directions of cooperation with the Kingdom.

– The Saudi partners have experience in solar and wind energy development. Saudi Arabia will actively participate in the international exhibition “EXPO-2017” in Astana with its novel solutions in the energy field. Also, during the talks we have negotiated the current policy in the field of oil and gas. In general, I am of the opinion that we have had very useful and urgent meetings in this important country in the region, the President of Kazakhstan said.

Source: President of the Republic of Kazakhstan

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