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‘UAE-Kazakh Business Forum’ holds discussions on trade, investment partnerships

25 December 2018 18:41

ASTANA. KAZINFORM - Participants in the UAE-Kazakh Business Forum highlighted the importance of reinforcing trade and investment ties between the two countries. The forum, held recently at the Dubai Chamber of Commerce and Industry, saw discussions and presentations by the Ministry of Economy, the Ras Al Khaimah Chamber of Commerce and Industry, and the Ministry of Investment and Development of Kazakhstan, WAM reports.

The forum addressed mutual investment opportunities available in both countries in the areas of food production, food security, Islamic finance, education, training, transportation, telecommunication, pharmaceuticals and tourism.

The participants at the forum, highlighted the keenness of the Emirati business sector, as per government directives, to promote food security and the potential of Kazakhstan's agricultural sector, such as in fish farming.

The forum's participants, which included Humaid Mohammed bin Salem, Secretary-General of the Federation of Chambers of Commerce and Industry, and Madyar Minilbekov, General Consul of Kazakhstan in Dubai, also highlighted the opportunities provided by the economies of the two countries, in light of 90 signed agreements and the presence of over 300 joint companies in the petrochemicals, mining, agricultural, security and food sectors.

In his opening speech, Humaid bin Salem said that both countries possess many advantages that will enable them to enhance their economic relations while noting that the value of their current trade amounts to AED2.5 billion.

He also explained the UAE's efforts to develop its investment systems, through implementing a comprehensive programme based on the UAE Vision 2021 while highlighting the investment opportunities available to business owners and private sector companies from both countries.

Kazakhstan possesses considerable natural resources and provides opportunities for Emirati investors in the areas of agriculture, food industries and livestock; he noted while urging Kazakh investors to invest in the UAE and benefit from investment opportunities in the energy, mining and electricity and transportation sectors, which exceed a value of AED7.34 billion.

The forum was organised by the UAE Federation of Chambers of Commerce and Industry, in cooperation with the UAE Ministry of Foreign Affairs and International Cooperation, the Dubai Chamber of Commerce and Industry, the Kazakh Ministry of Investment and Development, and the National Kazakh Chamber of Entrepreneurs.