Kazakhstan’s trade house opens in UAE
The Business Council meeting and Trade and Economic Mission of Kazakhstani Enterprises took place on February 27-29 in the UAE. Leading the Kazakhstani delegation was trade and integration minister Arman Shakkaliyev, Kazinform News Agency reports.
As part of the Trade Mission the Kazakhstani-Emirati Business Forum was held within the Expo 2020 Dubai, bringing together over 200 companies of the two countries as well as distinguished guests.
Opening the event, Shakkaliyev noted that the UAE is one of the key directions for Kazakhstani entrepreneurs thanks to its tax-free system, robust economy and strong demand for Kazakhstani products.
Last year, the countries traded goods for 328.9 million US dollars, of which Kazakhstani exports amounted to 210.3 million US dollars and imports – 118.6 million US dollars. Given the great potential, the countries could bring the figure to up to 1 billion US dollars.
We welcome agricultural cooperation and invite Emirati companies to invest in organic food production. The Kazah government ensures a safe and stable investment environment, providing for a package of investment preferences for export-orientated projects, said the Kazakh trade and integration minister.
For his part, Secretary-General of the Federation of UAE Chambers of Commerce and Industry Humaid Mohamed Ben Salem expressed readiness to promote bilateral cooperation.
Kazakhstan opened its trade house within the Dubai Expo with the support of QazTrade, trade and integration ministry and Kazakh embassy to the UAE to increase the attractiveness and promote domestic goods and services in the Emirati market.
The trade house is set to bring together business circles of Kazakhstan and the UAE, creating a firm foundation for further development of trade as well as joint projects in IT and oilfield service sector.
The QazTrade-led Business Forum featured B2B talks, gathering 60 Kazakhstani producers in the industries as food production, chemical industry, IT services, construction and others.
Following the business meetings, export contracts worth 28.6 million US dollars were signed. A memorandum of mutual understanding on creating a joint Business Council was signed between the Foreign Trade Chamber of Kazakhstan and the Federation of UAE Chambers of Commerce and Industry.
