UAE firms to boost ties with Kazakhstan

Dubai Exports, the export promotion agency of the Department of Economic Development -Government of Dubai, will lead a multi-sector trade mission to the Central Asian republic of Kazakhstan this year as part of stimulating dialogue and partnerships between businesses and officials on both sides. The mission, scheduled to tour Kazakhstan from the 5th to 7th of September, will specifically look at enabling businesses in the UAE and Kazakhstan to market their export capabilities by taking advantage of the ongoing economic diversification and growth in both countries. The largest among the former Soviet republics after Russia and the ninth largest country in the world, Kazakhstan is blessed with vast farmlands as well as abundant hydrocarbons and mineral wealth. A successful transition to free market and progressive economic and social reforms have seen the country growing at seven per cent annually. Kazakhstan was also the first of the former Soviet republics to receive an investment-grade credit rating in 2002. The country has since attracted $118 billion in accumulated foreign investment, with an economic policy emphasising diversification into non-oil sectors. The Dubai Exports Trade Mission will seek to introduce UAE businesses to sectors that show a strong appetite for imported products and expertise in Kazakhstan. “We strongly believe that our firms can make considerable inroads in a country such as Kazakhstan, which offers huge opportunities in a host of areas, from oil and gas extraction to food processing and packaging,” said Engineer Saed Al Awadi, CEO of Dubai Exports. The mission, organised in co-operation with the Consulate General of Kazakhstan in Dubai, will tour the key Kazakh cities of Almaty and Astana. The mission is also due to coincide with Kazbuild, the largest exhibition for the thriving construction sector in Kazakhstan where modernisation is driving demand for state-of-the-art machinery and processes.