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  • Kazakh PM visit to Abu Dhabi: signing of $2.2 billion in contracts

Kazakh PM visit to Abu Dhabi: signing of $2.2 billion in contracts

16 March, 2021 10:15
Kazakh Prime Minister Askar Mamin held talks with the Vice President and Prime Minister of the United Arab Emirates (UAE), and ruler of the Emirate of Dubai Sheikh Mohammed bin Rashid Al Maktoum and Deputy Prime Minister and Minister of Presidential Affairs Sheikh Mansour bin Zayed Al Nahyan as part of his working visit to Abu Dhabi on March 15, reports Strategy2050.kz citing the Kazakh Prime Minister’s press service.

The Kazakh delegation included Agency for Strategic Planning and Reforms Chair and Managing Director of the Astana International Financial Centre Kairat Kelimbetov, Minister of Industry and Infrastructure Development Beibut Atamkulov, Minister of Agriculture Saparkhan Omarov, Minister of Ecology, Geology and Natural Resources Magzum Mirzagaliyev, as well as other senior officials and representatives of Kazakhstan’s business community.

The sides discussed the implementation of previously reached agreements and the prospects for bilateral cooperation in trade and economic, financial and investment, transport and logistics, agro-industrial, tourism, space, mining and metallurgical, and energy sectors.

Kazakh Prime Minister also met with Emirati business people and management of the Mubadala state holding, Aldar Properties, ADQ, Al Dahra Holding, and International Holdings Company (Royal Group).

The sides saw the signing of 17 intergovernmental and commercial agreements between Kazakhstan and the UAE on implementation of joint projects on construction of poultry farms and dairy farms, production and processing of fruits and mushrooms, cooperation in mining and geological exploration, creation of an industrial Park in Ekibastuz industrial zone, development of a tourism complex in Katon-Karagai area in East Kazakhstan region, as well as opening of production of electric car components in Kazakhstan. 

The UAE will also participate in the Karaganda Region's water supply and sewage projects, which will include the transfer of advanced technologies and subsequent localisation of production in Kazakhstan.

To finance agricultural projects and boost cooperation in this sector, Kazakhstan and the UAE will set up a joint fund with a total capital of $100 million. 

The total amount of investments expected in Kazakhstan's economy with the launch of these projects is estimated at nearly $2.2 billion. 

“Investment projects envisage the creation of new productions with high added value and profitability, as well as high demand potential in the domestic and potential foreign markets. Their implementation will allow creating new quality jobs in Kazakhstan and introducing advanced technologies and practices,” said the press service. 

Top management of the Dubai International Financial Centre (DIFC) and the Dubai Investment Corporation also met with Mamin to discuss the prospects for financial and investment cooperation between Kazakhstan and the UAE, including at the Astana International Financial Centre. 

To increase air travel between the two countries, Emirati low-cost carrier Wizz Air Abu Dhabi will launch regular passenger flights on Abu Dhabi - Almaty and Abu Dhabi - Nur-Sultan routes in May.

As part of his visit, Mamin also visited the Wahat Al Karama (Oasis of Dignity) war memorial located across Sheikh Zayed Grand Mosque and the Mohamed bin Zayed University of Artificial Intelligence.

The Prime Minister was briefed on the ongoing projects in Masdar City known for its aspiration to become one of the world’s most sustainable cities.