Kazakhstan, UAE Ink $6.1 Billion Agreement to Develop 21 Joint Projects

NUR-SULTAN – The Kazakh government’s delegation headed by Kazakh Prime Minister Askar Mamin signed a $6.1 billion agreement on investment cooperation with the Emirati government during their Oct. 12 working trip to Abu Dhabi.

L-R: Kazakh Prime Minister Askar Mamin and Emirati Deputy Prime Minister – Minister for Presidential Affairs Sheikh Mansour bin Zayed Al Nahyan during an Oct. 12 meeting in Abu Dhabi. Photo credit: primeminister.kz.

The document envisages the implementation of 21 projects. Kazakhstan proposed projects that will create new industries with high added value and great demand potential in the domestic and foreign markets. The projects will create new high-quality jobs and will introduce new advanced technologies and best practices to Kazakhstan.

In particular, Kazakhstan and the United Arab Emirates (the U.A.E.) will cooperate in developing the agro-industrial sector. Ten out of 21 projects envisage the launch of high value-added food production. Kazakhstan will become an important link in the Emirati Food Security Strategy by 2051.

Mamin and Emirati Deputy Prime Minister – Minister for Presidential Affairs Sheikh Mansour bin Zayed Al Nahyan also discussed the prospects of cooperation in trade, economy, finance and investment, transport and logistics, agro-industry, petrochemistry, space, mining and metallurgy, energy, as well as other areas.

Kazakh President Kassym-Jomart Tokayev gave impetus to this bilateral cooperation during his first presidential visit to Abu Dhabi in January. Tokayev and Crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed Al Nahyan discussed prospects for bilateral relations and economic cooperation.

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