UAE, Kazakhstan explore joint business investments

29/02/2016 06:07 AST

The value of UAE investments in Kazakhstan has crossed Dh2 billion, according to the Kazakhstan Ministry of Investment and Development.
Kairat Lama Sharif, Ambassador of Kazakhstan to the UAE, emphasised the importance of strong UAE-Kazakhstan relations. He said bilateral trade exchange was valued at $135 million by the end of 2015.

Sharif said Kazakhstan is willing to extend the validity of UAE visitors' stay to 30 days, instead of the regular 15-day permit. UAE nationals are exempted from obtaining a visa to Kazakhstan since July 2014.

This was revealed on the sidelines of a delegation visit headed by Sharif to Dawood Al Shezawi, founder and president of the Annual Investment Meeting (AIM).

The AIM higher organising committee, in collaboration with the Embassy of Kazakhstan to the UAE, presented to around 70 Kazakhstani businessmen and investors details about 14 additional investment activities to be added during the sixth edition of AIM, calling them to take part in the region's most prominent FDI event.

Sharif said he would facilitate Kazakhstani delegations to attend AIM annually, citing his country's larger participation in the sixth edition of AIM. Sharif revealed that the city of Almaty, the largest city and financial centre in Kazakhstan, is seeking to establish bilateral relations with Dubai Municipality to help businessmen in Kazakhstan to activate economic relations with Emirati investors.

Sharif said Kazakhstan attaches great importance to the UAE's participation in Expo Astana 2017, which will be held from June 10 to September 10, 2017. "The Expo's official theme is 'Future Energy'. We see the UAE as an essential participant in this event, in the sense that the country will be hosting the World Expo 2020. The UAE is home to the International Renewable Energy Agency regional headquarters, and has prominent projects in this domain," added Sharif.

Al Shezawi called for a larger Kazakhstani presence in the forthcoming AIM. He urged Kazakhstan to participate in AIM this year by doing a country presentation. "We look forward to further collaboration," he added.

More than 15,000 attendees from over 140 countries will take part in the sixth edition of AIM. According to Al Shezawi, participating in the AIM will enhance opportunities for investors and companies from Kazakhstan to strengthen their presence in the UAE, the region and the world, and will enable Kazakh companies to establish new partnerships and expand its business in global markets through Dubai.

Khaleej Times