"Kazakhstan can become the main trade and economic partner of the UAE in Central Asia."
Dubai, UAE, September 04, 2018: About the main perspectives and potential of investment and economic cooperation between the countries, Ilya Urazakov, Head of the Representative Office of the State Investmentand Promotion Agency of the Republic of Kazakhstan, 'Kazakh Invest', told at the meeting with representatives of the UAE Media.
- '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' - the speaker said.
According to data for 2017, commodity turnover between the countries approached the level of 680 million US dollars, and the volume of investments in Kazakhstani projects for all this time amounted to about 4 billion USD, while the total amount of foreign investment in the country over the past 10 years reached 270 billion USD, which is 63% of all investments in Central Asia.
The Republic of Kazakhstan today actively invites the business of the Middle East to cooperate in various fields of the economy.
As part of the presentation of Kazakhstan's Investment Strategy for 2018-2022, Urazakovnoted that the most promising sectors for cooperation with the Arab Emirates business are agriculture, mining, petrochemicals and tourism projects.
220 million hectares of agricultural land in the middle of Eurasia, exemption from taxes and full governmental support, this is what the Republic offers for partners from the UAE today, as part of the investment cooperation program.
- 'Today there is no doubt that cooperation between Kazakhstan and the UAE will be extremely successful!» -noticed Ilya Urazakov. «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 quality processing, full state support and, of course, access to new markets.'
This country of Central Asia 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.
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