Kazakhstan and Saudi Arabia explore new areas of investment partnership
Chairman of the Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan Gabidulla Ospankulov held a meeting with Co-Chairman of the Kazakhstan-Saudi Business Council Ahmed Ali Al-Dakhil and representatives of the delegation of the Kingdom of Saudi Arabia, Kazinform News Agency cites the Kazakh MFA.
During the negotiations, the parties discussed opportunities to expand bilateral cooperation in priority sectors of the economy, including energy, renewable energy, infrastructure, agro-industrial complex, pharmaceuticals, and high technologies. Particular attention was paid to the role of the Kazakhstan-Saudi Business Council as an effective platform for direct dialogue between the business communities of the two countries.
Chairman Ospankulov noted that Kazakhstan and Saudi Arabia are building a strategic partnership based on trust and mutual interests, and that new opportunities are emerging today to expand joint projects in key areas of the economy: “We highly appreciate the activity of our Saudi partners and are open to the closest possible cooperation. To date, the volume of investments of the Kingdom of Saudi Arabia in Kazakhstan has already exceeded 110 million US dollars; however, we see tremendous potential for further expansion of our economic relations. Kazakhstan is ready to provide favorable conditions and an individual approach for the implementation of investment initiatives, and we are confident that joint projects will strengthen economic ties and bring tangible benefits to our countries.”
For his part, Ahmed Ali Al-Dakhil emphasized that the Kingdom of Saudi Arabia views Kazakhstan as a promising partner in Central Asia and expressed the readiness of the Business Council to facilitate the development of new areas of cooperation and to attract Saudi investors to projects in Kazakhstan.
At the conclusion of the meeting, the parties confirmed their readiness to continue active dialogue and joint work on the development of new areas of cooperation. In this context, it was noted that the meetings of the Kazakhstan-Saudi Business Council held in Riyadh in 2023 and in Astana in 2024 laid a solid foundation for the consistent expansion of the partnership and the implementation of new joint projects.
As written before, President Kassym-Jomart Tokayev received today Mohamed Bin Mubarak Fadhel Al Mazrouei, UAE Minister of State for Defense Affairs.
