Kazakhstan has an opportunity to become the main trade and economic partner of the UAE in Central Asia

Kazakhstan has an opportunity to become the main trade and economic partner of the UAE in Central Asia

Representative of ''Kazakh Invest" JSC in Dubai Ilya Urazakov told on a meeting with representatives of 14 leading business publications of the United Arab Emirates on the main perspectives and potential of investment and economic cooperation between the countries.

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

According to the information 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 dollars, while the total amount of foreign investment in the country for the last 10 years has reached 270 billion dollars, that makes 63% from all investments of the Central Asia.

As part of the presentation of the Investment Strategy of Kazakhstan for 2018-2022, Urazakov noted that today Kazakhstan 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 the words of Urazakov, 220 million hectares of agricultural land in the heart of Eurasia and exemption from taxes, this is what Kazakhstan offers today for investors from the UAE, within the framework of the investment cooperation program.

Urazakov noted: "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".

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