Kazakhstan ready to ramp up exports to Arab states in 100 commodity items worth about $400mln

First of all, this is the expansion of trade-economic ties. The President expressed satisfaction over a dynamic growth of trade between the Central Asian region annd GCC countries. «We have all chances to significantly increase mutual trade turnover,» said the President.

«For this we need to expand the commodity range. For instance, Kazakhstan is ready to raise its exports to the Persian Gulf countries in the nearest time in 100 items to the amount of 400 million US dollars,» he said.

He reminded that the Persian Gulf states had invested 3.6 billion US dollars to the economy of Kazakhstan within its independence period.

«The second area is boosting investment cooperation. According to the UNCTAD report, in 2022, net investment inflow to Central Asia increased by 40% and reached 10 billion US dollars, 60% of which fall on Kazakhstan,» he noted and added that Kazakhstan is keen on boosting investment ties.

He told the Summit participants about the large-scale economic reforms launched in Kazakhstan and aimed at diversification of economy, including creation of favorable conditions for foreign investors.

The recently established Kazakhstan-Saudi Arabia Business Council is called to become an important platform for the implementation of trade and investment potential of the two countries. «We are ready to launch similar mechanisms of cooperation with all GCC countries,» he concluded.

As reported, at the invitation of the Custodian of the Two Holy Mosques - King of Saudi Arabia Salman bin Abdulaziz, President Kassym-Jomart Tokayev participated in the 1st Central Asia + Gulf Cooperation Council Summit in Jeddah. The President met with Crown Prince and Prime Minister of Saudi Arabia Mohammed bin Salman and Leader of Tajikistan Emomali Rahmon.