Government • 11 April, 2018

MID RK Vice Minister discusses the expansion of investment cooperation with Ambassador of Malaysia

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A meeting was held between the Vice Minister for Investments and Development, Arystan Kabikenov, and the Ambassador of Malaysia to Kazakhstan, Said Mohamad Bakri Said Abd Rahman, reports

During the meeting, current issues of bilateral trade, economic and investment cooperation were discussed.

Arystan Kabikenov noted that at the current moment all the necessary basis for business cooperation has been created and the ministry is ready to expand bilateral cooperation within the framework of its competence.

In Kazakhstan over the past five years, serious reforms have been carried out that have improved the competitiveness of the business environment. In the World Bank's rating, Kazakhstan's position on the “Ease of doing business” index improved by 16 positions, ranking 35th. In addition, this year Kazakhstan joins the OECD Investment Committee as an associate. Along with this, comprehensive work is continuing to improve the investment climate further, a number of new legislative initiatives has been adopted.

"We are ready to expand the horizons of bilateral cooperation between our countries," the Vice Minister said, stressing the interest in promoting export products to the Malaysian market.

Ambassador of Malaysia, Said Mohamad Bakri, in his turn, said that his visit to Kazakhstan was organized to establish bilateral cooperation and expressed interest in implementing joint investment projects.

Recall, commodity turnover between Kazakhstan and Malaysia in 2017 amounted to $123.4 million, which is 33% higher than for the same period last year ($82.9 million). In January 2018, the volume of trade exceeded the figures for the same period last year by 27.9%, amounting to $8.6 million.

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