Economic cooperation between Kazakhstan and UAE

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The United Arab Emirates (UAE) is one of Kazakhstan’s important partners in the Middle East. There is a number of intergovernmental agreements in place aimed at deepening trade and economic cooperation, promoting and protecting mutual investments, the press service of the KAZAKH INVEST reports.

The volume of trade between the two countries in 2021 increased by 66% compared to 2020 and amounted to $709 million. In the first 9 months of 2022, this figure reached $558 million. Of this, Kazakh exports amounted to $519 million and imports amounted to $39 million. The main products exported from Kazakhstan are copper and copper cathodes, barley, mutton, and lamb.

Since 2011, the total inflow of direct investments from the UAE to Kazakhstan amounted to about $2 billion. Currently, the UAE business investment portfolio in Kazakhstan includes 25 projects worth a total of $5.3 billion. These include projects such as the launch of a poultry farm in Almaty region (Falah Growth fund), the expansion of power capacities at TEC-3 Karaganda (Falah Growth Fund), the launch of a grain crop processing enterprise in the Akmola region (Phoenix Global DMCC), etc.

During an upcoming investment roundtable in Abu Dhabi, organized with the support of «NC «KAZAKH INVEST» JSC, promising investment projects in oil and gas, food industry, civil infrastructure, and financial sectors will be discussed. A number of commercial documents is also expected to be signed, and bilateral negotiations between leading companies from both countries will be held.