Kazakhstan and UAE seek to expand investment cooperation

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DUBAI (TCA) — Investments of the United Arab Emirates (UAE) in Kazakhstan have reached $545 million and bilateral trade amounted to $135 million at the end of 2015, Kairat Lama Sharif, Ambassador of Kazakhstan to the UAE, said on the sidelines of a Kazakh delegation visit headed by Sharif to Dawood Al Shezawi, founder and president of the Annual Investment Meeting (AIM), one of the world’s leading Foreign Direct Investment (FDI)-focused platform, Khaleej Times reported on February 29.

The AIM organizing committee, in collaboration with the Embassy of Kazakhstan to the UAE, presented to around 70 Kazakhstan businessmen and investors details about 14 additional investment activities to be added during the sixth edition of AIM, calling them to take part in the region’s most prominent FDI event.

Ambassador Sharif said he would facilitate Kazakhstan delegations to attend AIM annually.  

Sharif said that Almaty, the largest city and financial center in Kazakhstan, is seeking to establish bilateral relations with Dubai Municipality to help businessmen in Kazakhstan to activate economic relations with UAE investors.

The Kazakh ambassador also said that Kazakhstan attaches great importance to the UAE’s participation in Expo Astana 2017, which will be held from June 10 to September 10, 2017.

“The Expo’s official theme is ‘Future Energy’. We see the UAE as an essential participant in this event, in the sense that the country will be hosting the World Expo 2020. The UAE is home to the International Renewable Energy Agency regional headquarters, and has prominent projects in this domain,” Sharif said.

Sergey Kwan

TCA