COVID-19 Latest
Kazakhstan|business|May 22, 2017 / 05:08 PM
Kazakhstan invested $900 million in UAE

AKIPRESS.COM - During the years of its independence, Kazakhstan has invested $900 million in UAE, the Kazakh Minister for Investments and Development said Monday.

"The United Arab Emirates is one of Kazakhstan's key partners in the Middle East. Our relations are based on friendship and mutual trust. At the moment, we are pleased to note the progressive dynamics of bilateral commercial and economic relations. The UAE is the first among the Middle East countries in terms of trade turnover with Kazakhstan," Kazinform state news agency reported Minister Jenis Kasymbek a saying at the Kazakh-UAE Business Forum in Astana.

"Since the independence of our country the total direct investment of the UAE in Kazakhstan has equaled to virtually $2 billion. At the same time, Kazakhstan has invested over $900mn in the UAE economy,"  Kassymbek added.

In addition, the minister advises that there are nearly 200 joint ventures partially owned by the Emirati business presently operating in Kazakhstan.

"We are implementing joint projects in agriculture, energy and mining. However, we see we have a much higher potential for developing trade and economic relations," Kasymbek adds. 

All rights reserved

© AKIpress News Agency - 2001-2024.

Republication of any material is prohibited without a written agreement with AKIpress News Agency.

Any citation must be accompanied by a hyperlink to akipress.com.

Our address:

299/5 Chingiz Aitmatov Prosp., Bishkek, the Kyrgyz Republic

e-mail: english@akipress.org, akipressenglish@gmail.com;

Follow us:

Log in


Forgot your password? - recover

Not registered yet? - sign-up

Sign-up

I have an account - log in

Password recovery

I have an account - log in