Kazakhstan Asia Pacific Trade and Investment Chamber will start operating in Singapore
Kazakhstan Asia Pacific Trade and Investment Chamber will start operating in Singapore. As the Ambassador of Kazakhstan to Singapore announced, the new organization was established upon Kazakhstan’s initiative. Its headquarters will be located in Singapore. The Chamber will protect the rights of investors and support business transactions. All companies with business interests in the Asia-Pacific region and the Eurasian Economic Union can apply for membership in KAPTIC. Currently, large companies of Singapore, Japan and Malaysia have already expressed interest in joining the organization. According to the diplomat, the Chamber will start work in January 2017.
Usen SULEIMEN, KAZAKH AMBASSADOR TO SINGAPORE:
This organization is a non-governmental, non-profit. It will act as quasi-guarantor in transactions between businessmen of not only Kazakhstan and Singapore, but also large companies. This organization will include the representatives of 10 ASEAN countries, representatives of New Zealand, Australia, China, Korea, Japan and India.
The Kazakh ambassador mentions the growing interest of Singaporean partners in the Eurasian market. The island state has initiated the launch of negotiations on the Free Trade Agreement with the EAEU. According to experts, this document’s entry into force will be a major launching ground for bilateral cooperation. In addition, in 2017, an agreement on promotion and mutual protection of investments between the two countries is expected to be signed. The total volume of Singapore’s investments in Kazakhstan’s economy is more than $832 million.