• KGS/USD = 0.01134 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09264 0.54%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01134 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09264 0.54%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01134 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09264 0.54%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01134 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09264 0.54%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01134 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09264 0.54%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01134 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09264 0.54%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01134 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09264 0.54%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01134 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09264 0.54%
  • UZS/USD = 0.00008 0%

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Kazakhstan and Malaysia Investment Roundtable

On May 17, the second day of his official visit to Kazakhstan, Prime Minister of Malaysia Anwar Ibrahim joined Kazakhstan Prime Minister Olzhas Bektenov and representatives of the two countries’ business communities for a Kazakhstan-Malaysian investment roundtable in Astana. In his welcoming speech, the Kazakh prime minister reiterated that Malaysia is one of the key trade and economic partners of Kazakhstan in Southeast Asia. Over the past year, bilateral trade turnover increased from $150 million to almost $245 million. The goal is to now unlock the existing potential and exceed the pre-pandemic trade figure of $650 million. Bektenov announced Kazakhstan's intention to diversify exports to Malaysia and called on Malaysian business to jointly explore new opportunities to strengthen partnerships in services, manufacturing, finance, education, subsoil use, agriculture, and construction. Today, 48 companies with Malaysian capital operate in Kazakhstan and 17 joint investment projects totalling over $410 million are being implemented. Prime Minister of Malaysia Anwar Ibrahim announced his country’s intention to strengthen cooperation with Kazakhstan in tourism, education, the energy sector, as well as in the supply of Kazakh halal products. Kazakh and Malaysian businesses agreed to deepen investment ties and explore collaboration in new markets. Agreements and memoranda totaling more than $350 million were signed on cooperation in attracting investment in Islamic finance and trade development, as well as in food processing, mining, gold processing, and joint production of transformer and automotive oil.  

Kazakhstan and Malaysia Set to Expand Cooperation

On May 16, Malaysian Prime Minister Anwar Ibrahim made an official visit to Kazakhstan to engage in talks with President Kassym-Jomart Tokayev. The meeting focused on expanding cooperation in political, trade, economic, investment, and humanitarian spheres. In his opening speech, Tokayev hailed Malaysia one of Kazakhstan's most important and reliable partners in Southeast Asia, and continued:  “Kazakhstan and Malaysia have a history of long-standing ties of friendship and cooperation - so I believe your visit will provide a very strong impetus to the further development of ties between our countries. We are ready to make additional efforts to advance our interaction and cooperation in many important areas.” The Kazakh president welcomed the participation of Malaysian companies in the implementation of new projects and promised necessary support from the Government of Kazakhstan. In addition, he commended the 30-day visa-free regime which benefits citizens and in particular, business men and women, travelling and working between the two countries, and noted the convenience of direct flights. Regarding cooperation in education, attention was drawn to the fact that more than 500 Kazakh students are currently studying at Malaysian universities. In turn, Anwar Ibrahim stressed the importance of strengthening Malaysia’s trade and economic cooperation with Kazakhstan, and stated: “We can make the most of growing economic relations. We have created a huge commodity market in Malaysia. Our country has now become a regional hub for the production of computer chips with significant investments from the USA, Europe, especially Germany, and China. I think we can share this experience and at the same time, learn from your successful transformations of various fields.”    

Kazakhstan’s President Commends Growing Cooperation Between Central Asian States

On May 16, Kazakhstan's President Kassym-Jomart Tokayev hosted the first meeting in Astana of Security Council secretaries from Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan, and the military attaché of the Embassy of Turkmenistan in Kazakhstan. In his opening address, Tokayev announced that the aim of the meeting was to provide an effective platform for the collaborative prevention of external and internal challenges and threats, and to develop necessary response measures. The Kazakh leader began by noting the steady growth of trade and economic cooperation between the Central Asian countries and stated that over the past five years, intraregional trade  had risen by 80 percent to exceed $10 billion.  He explained that large regional projects not only bring tangible mutual benefits, but also change the entire configuration of the Central Asian economy. The development of transport and logistics potential is becoming a new reference point for the rapid development of the region. Cultural and humanitarian ties have also intensified, contributing to the further rapprochement of the Central Asian states. Returning to the pressing issue of the need to join forces in countering transboundary challenges and threats, he announced: “First of all, we are talking about the fight against international extremism and terrorism, drug trafficking, and arms trafficking. In this regard, Afghanistan must be the focus of our common attention. Complex multidirectional processes are now evident in this country. Whilst signs point to a stabilization and revival of the economic situation, there remain high risks associated with the activity of international terrorist organizations, as evidenced by the bloody terrorist attack in the Moscow region [in March]. In our opinion, one of the strategic tasks at present is the active involvement of Afghanistan in regional ties. And for this, much depends on the coordinated position of our countries. We consider it urgent to create a UN Regional Center for Sustainable Development Goals for Central Asia and Afghanistan in our country.” Tokayev expressed his satisfaction with the growing regional cooperation and mutual trust and concluded:  “Some 10 years ago, there was no such situation in the Central Asian region. Now heads of state, heads of government, secretaries of the Security Councils, heads of law enforcement agencies, not to mention heads of economic departments, closely interact with each other. And this is a very good sign that the situation in the Central Asian region is moving towards sustainable development.”    

Kazakhstan Becomes First CIS country to Join ICAO Program on Environmentally-Friendly Aviation Fuel

Kazakhstan has become the first CIS nation to sign an agreement with the International Civil Aviation Organization (ICAO) and join the program in the field of environmentally-friendly aviation fuel (ACT-SAF). "ICAO has set a goal of achieving net zero emissions from international flights by 2050. To achieve this goal, during the visit to Kazakhstan of the Regional Director of the European/North Atlantic Bureau of ICAO, Nicolas Rallo, an agreement was signed between Kazakhstan and ICAO on the accession of the Republic of Kazakhstan to the Program for Capacity Building Support and Training in the Field of Sustainable Aviation Fuels (ACT-SAF)," reported the press service of the Ministry of Transport of the Republic of Kazakhstan. According to this document, ICAO will assist Kazakhstan in developing and participating in ACT-SAF program activities, including the exchange of best practices and relevant information, participation in training seminars and workshops, technical assistance in issues related to SAF in national action plans, and the implementation of specific projects on SAF. As previously reported, the use of SAF reduces CO2 emissions by 80% compared to the use of conventional fuel. However, in 2024, the availability of clean jet fuel is expected to account for no more than 1% of total global demand. As a transit state between Europe and Asia, Kazakhstan could play a greater role in expanding the use of SAF in international flights. As a raw materials base for SAF production, bio-ethanol, municipal solid waste, and in the future, blast furnace and coke gases are being considered in Kazakhstan. The project for the creation of the Regional Hub of Clean Aviation Fuel (SAF) in Almaty will be presented by the European Bank for Reconstruction and Development on June 21 in Astana during the forum, Central Asia - Silk Road in the Sky, by ISF, an international consulting company which won the EBRD tender to become the project consultant.

Kazakhstan and Vietnam Look to Expand Economic Cooperation

Potential areas for increasing trade between Kazakhstan and Vietnam were discussed on May 15 by the Minister of Industry and Construction of Kazakhstan, Kanat Sharlapaev and the Minister of Industry and Trade of Vietnam, Nguyen Hong Dien. The parties noted that trade turnover between the two countries amounted to US $979 million in 2023, including $958 million in the trade of industrial products. From January-March 2024, bilateral trade reached $229 million. The Vietnamese side expressed interest in developing mineral deposits in Kazakhstan, as well as engaging in cooperation in the chemical industry. In turn, the Kazakh minister echoed the high potential for industrial cooperation between the two countries. Other sectors earmarked for cooperative development included the production of equipment for light industry, mechanical engineering, energy, agriculture, and food production.    

Major Mineral Fertilizer Production Plant Planned for Kazakhstan

EuroChem, a global fertilizer leader and China National Chemical Engineering Co. (CNCEC), a global provider of industrial engineering technologies are to collaborate on the design, construction, and commission of a large-scale chemical complex to produce mineral fertilizers in Zhanatas located in Kazakhstan’s Zhambyl region. The agreement was officially signed on 14 May in Astana. Scheduled to open in 2027, the construction of  the chemical complex is part of the Integrated Kazakhstan Industrialization Roadmap and represents the third and final stage of a project in which EuroChem has invested over US$1 billion. EuroChem Group President Oleg Shiryaev said that once in operation, the plant will have an annual output of over one million tons of mineral fertilizers, in high demand by Kazakhstan, other Central Asian countries, China, Russia and Europe. According to a report by the Kazakh Ministry of Industry and Construction, the new enterprise will create 2,400 new jobs. During the signing of the agreement, Minister of Industry and Construction of Kazakhstan Kanat Sharlapaev, welcomed the input of  world leaders in mineral fertilizer production as an important step in developing the country's chemical industry and emphasized: “To be truly food secure, fertilizers are a must. This is therefore a landmark project for us. Its joint implementation with EuroChem and Chinese partners is a great example of large Eurasian cooperation at its best and a significant event for regional food security.”    

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