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Kazakhstan-Malaysia trade turnover increases by 60%

29 October 2018 15:19

ALMATY. KAZINFORM - Entrepreneurs of Kazakhstan and Malaysia have discussed today the prospects for cooperation between the two countries in Almaty, Kazinform correspondent reports.

A delegation representing 12 companies of various industries arrived in Kazakhstan.

Mr. Mohd Mustafa Abd Aziz, Senior Director of Export Promotion & Market Access of Malaysia External Trade Development Corporation (MATRADE), informed that the purpose of the visit is to enhance the recognizability of Malaysian companies in Kazakhstan's market, search for potential partners in Kazakhstan, and develop cooperation, in particular, increasing exports from Malaysia to Kazakhstan, not only in the supply of goods, but also services.

Alongside this, he highlighted that there is an increase in trade turnover between the two countries. For instance, it reached more than $80 million (60% growth) in 2017. He said that the businesses of the two countries can cooperate in the fields of tourism, Islamic finance, education, and digital economy.

In addition, Malaysian Ambassador to Kazakhstan Syed Mohamad Bakri underlined that Malaysians now realize the potential of Kazakhstan's market. He also recalled that over 320 Malaysian companies participated in the International specialized exhibition Astana EXPO 2017.

In turn, representative of the Almaty Chamber of Entrepreneurs Nurlan Kabishtayev made the Malaysian business communities familiar with the opportunities of doing business in Kazakhstan.

On October 30, the Kazakhstan-Malaysia Business Forum will open in Almaty. It is aimed at developing direct contacts and win-win partnership between the business communities of both countries, creating a favorable climate for promoting the interests of Kazakhstan's business in the Malaysian market and attracting investment from Malaysia to Kazakhstan.

The forum is organized by the Joint Kazakhstan-Malaysia Business Council.