ASTANA – Kazakhstan and Qatar are set to launch a joint chamber of commerce and industry to boost trade and economic ties, as was announced during a business forum on Oct. 3 in Doha, reported the Association of Kazakhstan’s Oil Service Companies (KazService) press office.
One of the chamber’s initiators, Centrasia Group CEO Almas Kudaibergen, said the platform is designed for closer cooperation and knowledge exchange to facilitate systematic collaboration between businesspeople from both countries.
“Kazakh oil service companies are already operational in Qatar, while Qatari stores sell Kazakh lamb,” he noted that the chamber will yield mutual benefits and promote business interests.
Kudaibergen is optimistic about attracting significant Qatari investments into Kazakhstan, particularly from the Qatar Investment Authority, one of the world’s major sovereign wealth funds, with over $475 billion invested in more than 40 countries. Kazakhstan has yet to draw investments from this fund.
Organized by KazService, the business forum brought together over 175 representatives of the business communities from both countries, including QatarGas and Total Qatar, the key players in the Qatari economy and the global energy industry.
Qatar ranks as the fourth-biggest economy in the region and third in natural gas reserves globally.
Rashid Zhaksylykov, chairman of the KazService Presidium, emphasized the importance of strengthening strong business ties between the two nations. He called the forum not just an idea exchange platform but an opportunity to establish real partnerships and attract investments that will positively impact the economies and contribute to mutual prosperity.
Jose Iralde, chief strategy officer of Hassad Food, the Qatari state-owned company for investment in the agricultural sector, expressed readiness to consider investment in Kazakh agricultural companies with further exports to Qatar.
Nasser Al Kaabi, investor relations officer at Investment Promotion Agency Qatar, Dr. Jaber A. Al-Marri, former chairman of QatarGas, and Azamat Kozhanov, managing director of the Kazakh Invest national company, delivered their remarks to highlight investment prospects and business development opportunities in both countries.