Kazakhstan-Malaysia Business Council unveiled in Kuala-Lumpur

KUALA-LUMPUR. KAZINFORM An official opening ceremony of the Kazakh-Malaysian Business Council office was held in Kuala Lumpur. Those attending the event were the executives of government agencies, development institutions, mass media, national and private companies of the two countries, Kazinform learnt from the press service of the Kazakh MFA.

The Kazakh-Malaysian Business Council held a working session during the event. The sides shared their opinion on business opportunities in Kazakhstan and Malaysia. Special emphasis was placed on the policy of Kazakhstan aimed at improving financial instruments to support business, protecting investments and ensuring favorable conditions for domestic and foreign companies.

In his speech, Ambassador of Kazakhstan to Malaysia Bolat Imanbayev noted that Malaysia was among the leading trade partners of Kazakhstan in Southeast Asia. In 2018, mutual trade increased fourfold and reached almost US$500 million. The Ambassador highlighted that Malaysian companies and investors in Kazakhstan had implemented projects in various fields such as oil and gas, agriculture, engineering and construction. The projects amounted to US$1 billion.

The Co-Chairs of the Council Datuk Loo Took Gee and Dato' Berikkazy Seksenbaev pointed out that Islamic finance, halal industry, e-commerce, tourism, healthcare, information security, and renewable energy could be promising areas for enhancing cooperation. According to them, the Business Council is an effective platform for a constructive dialogue on the entire complex of bilateral trade, economic and investment cooperation.

Upon completion of the working meeting, the sides expressed interest in further expansion of trade, economic and investment cooperation.