KAZAKHSTAN, UAE TO CREATE JOINT BUSINESS COUNCIL
Kazakhstan and the United Arab Emirates will create a business council. «Atameken» National Chamber of Entrepreneurs and the UAE Chamber of Commerce and Industry signed the corresponding agreement in the framework of the joint business forum in Astana. The leaders of the National Chambers of Entrepreneurs (NCE) highlighted that the business council will become a platform for interaction between businessmen of the two countries. According to the NCE, over the past two years the trade turnover between Kazakhstan and the UAE has almost tripled to US$375 million. Nevertheless, the parties are sure that there is a huge unrealized potential between the countries.
NURZHAN ALTAEV, DEPUTY CHAIRMAN, THE BOARD OF NCE "ATAMEKEN"
- Arab businessmen have a strong interest. For example, they are interested in exports of lamb meat and beef from Kazakhstan. Cereals, flour and legumes are also of interest for the Arab businessmen. They’ve got a particular interest in lentils. Now we are negotiating with the Arab businessmen. They’re asking for more than 500 thousand tons of lentils.
Kazakhstan is interested in the UAE’s experience in the development of industrial zones. Currently, there are 10 special economic and 20 industrial zones in the Arabic country.
ZHENIS KASYMBEK, KAZAKH MINISTER OF INVESTMENTS AND DEVELOPMENT:
-We are ready to develop jointly and transfer some of the zones to the management of Emirates’ group companies. I propose to use Kazakhstan as a platform for placing production with subsequent output of products to the markets of the EU, China and Central Asian countries.
Today more than 200 joint ventures are operating in Kazakhstan. Projects in agriculture, energy and construction are being implemented. However, potential investors from the emirates are ready to invest in other spheres too.
HALIL AL OWAIS, REPRESENTATIVE, TOURIST COMPANY:
-I work in Dubai’s tourism sector. We want to cooperate and invest because Kazakhstan has a very large potential in tourism. We met with your businessmen and discussed these issues at the business forum. I want to say that there are already preliminary agreements.
Bilateral cooperation is very beneficial for both parties. Kazakhstan can create new productions and as a consequence, create more jobs. In addition, the Kazakh chamber of entrepreneurs claims that there is a great potential in delivering agro-industrial products from Kazakhstan to the Emirates. Eventually, additional export channels will open in the Middle East. Approximately 600 businessmen of both countries attended the forum.