Astana hosted a business forum with the participation of the Crown Prince of the UAE: key agreements signed

Today, the Kazakhstan-UAE Business Forum organised with the participation of Crown Prince of Abu Dhabi Sheikh Khaled bin Mohammed bin Zayed Al Nahyan took place at the IFCA Astana. The event became an important platform for deepening business co-operation between the two countries.

Welcoming speeches at the opening ceremony were delivered by Arman Shakkaliev, Minister of Trade and Integration of Kazakhstan, Dr Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade of the UAE, Murat Karimsakov, Chairman of the Board of the Foreign Trade Chamber of Kazakhstan, and Humaid bin Salem, Secretary General of the UAE Federation of Chambers of Commerce and Industry.

Chairman of the Presidium of the National Chamber of Commerce and Industry "Atameken" Raimbek Batalov noted that thanks to the forum today were identified priority areas on which the chambers of commerce and industry of the two countries will work in the future. According to him, the signing of a number of agreements will give impetus to both existing projects and already planned initiatives.

For his part, Humaid bin Salem, Secretary General of the UAE Federation of Chambers of Commerce and Industry emphasised: ‘For many years, our countries have been linked by deep diplomatic and trade relations based on trust, mutual respect and the pursuit of progress. Our economic ties are growing stronger every year, thanks to investments in key sectors - energy, trade, infrastructure, technology and sustainable development.’

Thus, Kazakhstan retains its status as one of the most attractive investment destinations in the region. According to Murat Karimsakov, Chairman of the Board of the Foreign Trade Chamber of Kazakhstan, the country offers investors legal guarantees, stability of tax legislation, as well as a wide range of state support, including tax and customs incentives, grants in kind and simplified administrative procedures.

One of the key support mechanisms is the Investment Headquarters under the Government, in the work of which NPP Atameken takes an active part. The Interactive Investment Card, which provides full support for projects at all stages of implementation, also remains an important tool.

Kazakhstan and the UAE demonstrate consistently positive dynamics of trade and economic cooperation. By the end of 2024, the total trade turnover between Kazakhstan and the UAE reached $277.4 million. More than 300 Kazakhstani companies are already exporting their products to the Emirates, which indicates a high level of trust on the part of Emirati business.

Since 2005, the UAE's direct investment in Kazakhstan's economy has exceeded $4.1 billion. At present, over 40 joint investment projects with a total value of over $6.5 billion are being implemented. Among them, the project for construction of a 1 GW wind power plant in Zhambyl region with a 600 MWh energy storage system stands out. The construction is scheduled to start in 2025 and to be completed in 2029.

It should be noted that the most important event of the business forum ‘Kazakhstan + UAE’ was the signing of the Memorandum of Understanding between the Foreign Trade Chamber of Kazakhstan and ABU DHABI PORTS COMPANY JSC. The purpose of this Memorandum is to establish a framework for co-operation, interaction and support between the countries.