Kazakhstan-UAE commodity turnover hit $633mln
Prime Minister of Kazakhstan Alikhan Smailov and Minister of Cabinet Affairs in the UAE Government Mohammad bin Abdullah Al Gergawi discussed the key issues of interstate cooperation, Kazinform Agency reports.
The UAE is one of the major trade and economic partners of Kazakhstan in Persian Gulf.
As the prime minister's press office informed, in 2022, commodity turnover between the two countries hit 633 million US dollars, with the potential to raise this indicator to 1 billion US dollars in the nearest time due to the expansion of the nomenclature of goods.
As Alikhan Smailov noted, new projects appear in investment interaction. The sides observe a 27% growth of inflow of Emirati investments in Kazakhstan in 2022 – 420 million US dollars.
According to Smailov, in the first half of 2023, this indicator rose by more than 3 times and already hit 400 million US dollars. “We are open for further cooperation in all priority areas and are ready to provide all-round support to the Emirati investors in implementation of their initiatives,” said the Kazakh Prime Minister.
Mohammad Al Gergawi emphasized that the UAE attaches great importance to the development of relations with Kazakhstan.
“We see positive results in economy. Of course, there is a huge potential. Apart from economic development, we also see friendship between our nations and increase in the number of tourists. We hope these indicators will keep rising,” he said.
