Kazakhstan and Malaysia Forge Alliance to Enhance Trade and Investment Relations

Kuala Lumpur, The Gulf Observer: In a proactive move to bolster trade and economic ties between Kazakhstan and Malaysia, Ambassador Bulat Sugurbayev of Kazakhstan to Malaysia engaged in fruitful discussions with Malaysian Minister of Investment, Trade, and Industry, Zafrul Abdul Aziz, according to the reports of Kazakh Foreign Ministry’s press service.

During the deliberations, Ambassador Sugurbayev underscored the immense potential for collaboration in trade and investment between the two nations, particularly in light of the forthcoming visit by the Prime Minister of Malaysia to Kazakhstan. He accentuated the pivotal role of the Joint Trade and Economic Committee (JTEC) in facilitating productive cooperation between the two countries.

In response, Minister Zafrul Abdul Aziz acknowledged the significance of the impending visit of the Malaysian Prime Minister to Kazakhstan, expressing optimism that it would catalyze multifaceted ties encompassing political, trade, economic, cultural, and humanitarian spheres between Astana and Putrajaya.

Commenting on Malaysia’s expectations from the upcoming visit, Minister Zafrul Abdul Aziz highlighted Kazakhstan’s pivotal role as Malaysia’s primary trade and economic partner in the Central Asian region. He lauded the substantial 30% increase in trade turnover between the two countries by the end of 2023, showcasing steady annual growth.

In furtherance of fostering business connections, Malaysia disclosed plans for a “round table” discussion in Astana during the visit, aimed at facilitating meaningful interactions among business leaders from both nations. The Minister concurred on the significance of the JTEC’s endeavors and expressed willingness to host the Committee’s 4th meeting in Kuala Lumpur slated for June this year.

Following the productive exchange, both parties reaffirmed their commitment to close collaboration on diverse trade and economic fronts. Additionally, they pledged to oversee the signing of several pivotal bilateral agreements, further cementing the robust partnership between Kazakhstan and Malaysia.

The meeting between Ambassador Bulat Sugurbayev and Minister Zafrul Abdul Aziz epitomizes the mutual resolve of Kazakhstan and Malaysia to deepen their economic engagement, laying the groundwork for sustained prosperity and cooperation between the two nations.