Kazakhstan and Malaysia committed to boost trade and investment relations

Ambassador of Kazakhstan to Malaysia Bulat Sugurbayev met with Malaysian Minister of Investment, Trade, and Industry, Zafrul Abdul Aziz, to discuss matters pertaining trade and economic cooperation between the two countries, Kazinform News Agency cites the Kazakh Foreign Ministry’s press service.

Ambassador noted the substantial potential for cooperation between the two nations in the field of trade and investment, particularly in anticipation of the forthcoming visit by the Prime Minister of Malaysia to Kazakhstan. He emphasized the pivotal role of the Joint Trade and Economic Committee (JTEC) in facilitating effective collaboration.

Minister Zafrul Abdul Aziz acknowledged the significance of the impending visit of the Malaysian Prime Minister to Kazakhstan and expressed optimism that it would invigorate political, trade, economic, cultural, and humanitarian ties between Astana and Putrajaya.

“Malaysia’s expectations from the upcoming visit of our Prime Minister to Astana are extremely high, since Kazakhstan is Malaysia’s main trade and economic partner in the Central Asian region. We are pleased that the trade turnover between our countries increased by 30% by the end of 2023 and demonstrates moderate annual growth,” remarked the Minister.

He outlined that Malaysia plans for a “round table” discussions in Astana during the visit which includes participation of business leaders, aimed at fostering business connections between the two nations. The Minister agreed on the significance of the JTEC’s efforts and expressed readiness to host the Committee’s 4th meeting in Kuala Lumpur in June this year.

Subsequent to the meeting, both parties committed to close collaboration on a wide array of trade and economic matters, as well as to jointly oversee the signing of several pivotal bilateral agreements between Kazakhstan and Malaysia.