Kazakhstan intends to deepen investment partnership with UAE: Kazakh PM

Astana, The Gulf Observer: Kazakhstan attaches particular importance to the development of an investment partnership with the United Arab Emirates (UAE), Kazakh Prime Minister Alikhan Smailov said at a meeting on Wednesday with UAE Ambassador to Kazakhstan Mohammed Saeed Mohammed Al Ariqi, reported the Prime Minister’s press service.

Smailov noted that the volume of investments from the UAE in Kazakhstan increased by 27% to approximately $420 million last year. He appreciated the start of the implementation of the agreements reached as part of a joint declaration on new strategic investment projects signed by the Presidents of the two countries in January.

“We strive to enhance our interaction, and we are also interested in the growth of UAE investments in Kazakhstan’s economy,” said the Prime Minister.

In addition to the joint investment projects in energy, transport and logistics sectors, the parties also discussed the development of trade relations.

With a task set by the leaders of the two countries to bring the volume of mutual trade to $1 billion, Kazakhstan is ready to increase the volume of supplies of agricultural, machinery and light industry products to the UAE market, Smailov highlighted.

Ambassador Mohammed Saeed Mohammed Al Ariqi stated that the UAE is set to foster efficient interstate cooperation, focusing on the agreements reached during the visit of President Kassym-Jomart Tokayev to the UAE.