Trade turnover between Kazakhstan and Saudi Arabia nearly triples
Kazakh Prime Minister Olzhas Bektenov met with Saudi Arabia’s Industry and Mineral Resources Minister Bandar bin Ibrahim Al-Khorayef, who arrived to attend Astana Mining & Metallurgy 2026 in Astana, Qazinform News Agency cites the Government’s press service.
Saudi Arabia ranks among Kazakhstan's key trade and economic partners in the Middle East.
As stated there, Kazakhstan and Saudi Arabia established friendly relations thanks to mutual support of the leaders.
Last year, the trade between the two nations grew by 17% to reach 11.7 million US dollars. In January-April this year, the commodity turnover rose by 2.9 times, exceeding 6.1 million US dollars.
For the past 20 years, the direct foreign investments in Kazakhstan amounted to 115.3 million US dollars.
The agreement on the establishment of the Kazakhstan-Saudi Arabia Coordination Council and the agreement on the mutual promotion and protection of investments reveal new opportunities for developing joint initiatives.
Special attention was paid to the development of cooperation in the mining sector and prospects for the implementation of joint projects in the area of critical minerals.
They also focused on cooperation in exploration, extraction and processing of commercial minerals and development of high-value-added products.
Earlier, Kazakh Ambassador to the Kingdom of Saudi Arabia Madiyar Menilbekov held talks with Saudi Vice Minister of Industry and Mineral Resources Khalid Al-Mudaifer.
