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Kazakhstan, UAE to implement investment projects worth $11B

27 January 2020 21:02
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Kazakhstan, UAE to implement investment projects worth $11B

ABU DHABI. KAZINFORM – President Kassym-Jomart Tokayev held a meeting with captains of industry of the United Arab Emirates as part of his official two-day visit to the country, Kazinform reports.

Opening the meeting with the UAE business elite, President Tokayev noted that Kazakhstan-UAE cooperation is exemplary in many respects. According to him, the two-way trade totaled $500 million and grew by 10% from January to November 2019 compared to the analogous period of 2018.

The Head of State added that direct investment from the UAE to Kazakhstan amounted to $2.1 billion, whereas investment from Kazakhstan to the UAE reached $1 billion.

Kassym-Jomart Tokayev revealed the ambitious plans to implement the joint investment projects to the tune of $11 billion.

Earlier it was reported that President Kassym-Jomart Tokayev held negotiations with Sheikh Mohammed bin Zayed al Nahyan, the Crown Prince of Abu Dhabi, stressing that the overarching goal of his visit to the UAE is to give a new impetus to the bilateral cooperation.

On January 28, President Tokayev will hold a meeting with Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the United Arab Emirates and ruler of the Emirate of Dubai, pay a visit to the Dubai International Financial Centre (DIFC) and hold talks with heads of Emirati companies.

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