ASTANA – Kazakhstan and Qatar inked commercial documents worth $18 billion at a Feb. 14 investment roundtable in Doha as part of President Kassym-Jomart Tokayev’s state visit to Qatar, reported the Akorda press service.
Kazakhstan and Qatar inked commercial documents worth $18 billion at a Feb. 14 investment roundtable in Doha. Photo credit: Akorda.
Opening the meeting, attended by senior officials and business leaders from both countries, Tokayev expressed hope that many of those present at the event would contribute to the efficient development of Kazakh-Qatari economic relations. He noted that Kazakhstan is ready to provide tax and customs preferences, co-financing of projects, partial guarantees and export support mechanisms.
“Today, during a meeting with His Highness Sheikh Tamim bin Hamad Al Thani, I proposed as a first step to increase bilateral trade to $500 million. Kazakhstan can offer high-quality products to the Qatari market, including machinery, iron, steel, agricultural products, and more. Kazakhstan also offers access to the Eurasian Economic Union market, with a total gross domestic product of $2.6 trillion. We also have a common border with China, which provides good opportunities for trade within the Belt and Road Initiative,” said Tokayev.
The President also underlined Kazakhstan’s transit and logistics capabilities, focusing on major infrastructure projects such as the Aktau seaport, Astana and Almaty’s international airports, numerous dynamic railway and road networks, and high-quality logistics hubs.
Kazakh President Tokayev at roundtable in Doha. Photo credit: Akorda.
“We have high hopes for the development of the Trans-Caspian International Transport Route, the so-called Middle Corridor. We believe that Qatari companies and financial institutions can benefit significantly by exploring business and investment opportunities in this area,” he said.
The signed documents, he noted, demonstrate “determination to develop economic cooperation.”
According to Tokayev, the energy sector is the basis of interaction between the two countries. Kazakhstan is ready to provide ample opportunities for oil and gas exploration.
“We implement global best practices to make significant discoveries possible. To this end, I invite Qatari energy companies to participate in projects in geological exploration, petrochemicals, transportation, and refining of oil and gas,” he noted.
Kazakhstan’s renewable energy potential, estimated at one trillion kilowatt-hours, was also a key focus of the meeting. Tokayev encouraged Qatari businesses to take part in extracting and processing critical raw materials such as cobalt, lithium, and others, which are needed for the global economy.
The President also spoke about prospects in agriculture, welcoming the Qatari Hassad Food company’s interest in building a plant for advanced processing of grain and peas.
Photo credit: Akorda.
“We are ready to support this initiative. We are also interested in developing the production of meat, fruits, vegetables, grain, flour, and other products with further direct supplies to Qatar,” the President said.
According to the President, digitalization, medicine, pharmaceuticals, and biotechnology are essential areas of cooperation between the two countries.
Tokayev recalled that the Astana International Financial Centre (AIFC) has established strong business ties with the Qatar Central Bank, the Qatar Financial Center, and the Qatar Stock Exchange. He said creating a Kazakh-Qatari direct investment fund in the AIFC could be a platform for financing joint ventures.
Concluding his speech, the Kazakh President invited Qatari business leaders to take part in the Astana International Forum in June.
