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Thursday, November 14th, 2019

Kazakhstan invests over 900 million USD in the UAE economy

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The United Arab Emirates is one of Kazakhstan’s key partners in the Middle East. Our relations are based on friendship and mutual trust. Today we are pleased to witness the progressive development of bilateral trade and economic relations. In terms of trade turnover with Kazakhstan, the UAE ranks first among the countries of the Middle East, � Minister of Investments and Development Zhenis Kassymbek noted, opening the forum.

According to the Minister, last year’s dynamics show very positive trends: compared to 2015, trade turnover between the two countries in 2016 almost tripled.

Since gaining the independence of our country, the total volume of UAE direct investments in Kazakhstan has amounted to almost 2 billion USD. At the same time, Kazakhstan has invested over 900 million USD in the economy of the UAE, � Zhenis Kassymbek added.

The Minister also said that to date, there are about 200 joint ventures with participation of UAE business operating in Kazakhstan.

Together we are implementing projects in agriculture, energy, mining and metallurgy. Meanwhile, we see that we have much greater potential for developing trade and economic relations, � Zhenis Kassymbek summed up.

It should be noted that the forum is attended by officials and more than 250 representatives of the business of the UAE.

Source: Government of the Republic of Kazakhstan

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