The UAE-Kazakhstan Business Forum looks at future partnerships and opening markets

Media IN / 25 -12-2018 / WAM
The participants in the UAE-Kazakhstan Business Forum stressed the importance of building on the distinguished relations between the two countries and working to raise and improve the level of trade and investment exchange and benefit from the agreements concluded and employ the countries ‘potentials and huge opportunities in all fields to enter into partnerships between the business sectors in the fields needed by the two countries’ markets.
The forum, which was organized by the Federation of Chambers of Commerce and Industry in the UAE at the Dubai Chamber of Commerce and Industry with the participation of private sector representatives from the two countries through open discussions and presentations by the Ministry of Economy, RAK Chamber of Commerce and Industry and the Ministry of Investment and Development of Kazakhstan, And the Republic of Kazakhstan, the most important of which are food production and food security as well as opportunities in the field of Islamic banking, education, training, transport, telecommunications, pharmaceuticals, tourism and many of the Other industries and oil and industrial sub-sectors.
Participants in the forum, organized in cooperation with the Ministry of Foreign Affairs and International Cooperation, the Dubai Chamber of Commerce and Industry, the Kazakh Ministry of Investment and Development and the Kazakh National Chamber of Entrepreneurs, Atamikin, stressed the UAE’s keenness to promote food security. Of the opportunities for joint projects even in fish farming .. pointing out that there are opportunities for cooperation in all areas, especially banking and financial services.
Participants in the forum, attended by Hamid Mohammed bin Salem, Secretary General of Chambers Federation and Madyar Minilbekov, the Kazakh Consul General in Dubai, discussed the real opportunities offered by the UAE and Kazakhstan in the light of the 90 agreements signed by the two countries and the presence of more than 300 joint companies In the fields of petrochemical industries, mining, agriculture, security and food industries.
The forum witnessed the discussions of business owners to exchange information and get acquainted with each other to discuss future partnerships and display their products in the two markets of the two countries. A number of Emirati businessmen stressed the importance of the forum in creating incentives to create partnerships between the two sides in various fields.
The Secretary General of the Federation of Chambers – in his opening speech – that there are many elements of the two countries to enhance the volume of economic relations between them, which do not reflect the size of their economic potential available as the volume of trade between them is currently 2.5 billion dirhams only.
And reviewed the efforts of the state to develop its investment systems through the implementation of an integrated program to develop the investment environment in accordance with the vision of the UAE 2021 and the results achieved in the Global Competitiveness Index and in the development of a climate conducive to attracting and developing investments, which contributed to the ability to attract more foreign investment and issued by the Middle East and North Africa In terms of volume of investment flows.
He pointed to the investment opportunities and fields available to business owners and private sector companies in the two countries. Kazakhstan has many natural resources and resources and represents real opportunities for UAE business owners as well as investment opportunities in the fields of agriculture, food industries and livestock.
He called on Kazakh businessmen to invest in the country and benefit from the comparative advantages and investment opportunities available in the fields of energy, metallurgy, electricity and transport, with total investment exceeding 7.34 billion dirhams.
He pointed out that the joint UAE-Kazakhstan Business Council, which was activated in 2017, will enable them to find common ground for cooperation in the field of trade or investment in the future. He expressed the hope that the two parties can work together to find suitable ground for further building their relations in the future.