04 September, 2018

Kazakhstan can become main trade and economic partner of the UAE in Central Asia

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Kazakh Invest National Company's representative in Dubai Ilya Urazakov told about a meeting with representatives of 14 leading business publications of the UAE on the main prospects and potential of investment and economic cooperation between the countries.

"Historically, our countries have very warm and strategic relations. But turnover and investment cooperation could be much higher. According to experts from both countries, the potential for economic cooperation can at least triple," Ilya Urazakov noted. 

According to data for the last year, the trade turnover between the countries approached the $680 million mark, and the volume of investments in Kazakhstani projects during this time amounted to about $4 billion, while the total amount of foreign investment in the country for the past 10 years reached $270 billion, which is 63% of all investments in Central Asia. As part of the presentation of the Investment Strategy of Kazakhstan for 2018-2022, Urazakov noted that Kazakhstan today actively invites the Middle East business to cooperate in various fields of the economy and the most promising sectors for cooperation with the business of the Arab Emirates are such sectors as: agriculture , subsoil use, petrochemicals and tourism projects. 

According to Urazakov, 220 million hectares of agricultural land in the heart of Eurasia and exemption from taxes, this is what Kazakhstan today offers for investors from the UAE, within the framework of the investment cooperation program. 

"Today there is no doubt that cooperation between Kazakhstan and the UAE will be extremely successful! Our countries are interested in each other. The UAE has the latest technology, excellent management and international expertise. Kazakhstan is ready to offer in addition to the richest resource base, conditions for high-quality processing, full state support and, of course, access to new markets. Our country is a "window" that opens access to a new, actively developing market of 500 million people, and these are the countries of Central Asia, the territory of Western China, Russia and the Caspian states," Urazakov noted.

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