Kazakhstan and UAE ink multibillion dollar agreements

The two sides have signed a total of nine agreements and memorandums / Photo: Akorda.kz

Companies from Kazakhstan and the United Arab Emirates (UAE) have entered into commercial agreements in key economic sectors, worth roughly $5 billion, as reported by Akorda, the official residence and workplace of Kazakhstan’s president.

Nine key documents, including agreements related to the construction of a sugar factory and a data processing center in Kazakhstan, were signed on the sidelines of the Kazakhstan-UAE Business Forum. Moreover, the Astana International Financial Center and Abu Dhabi Global Market inked a memorandum of understanding for international cooperation and mutual assistance in the regulation of laws protecting personal data, while Kazakhstan’s Chamber of International Commerce and Khalifa Economic Zones Abu Dhabi agreed to cooperate with each other, also sealing their intent with a memorandum.

According to Kazakh President Kassym-Jomart Tokayev, Kazakhstan and the UAE confirmed their willingness to expand bilateral trade and economic cooperation during the talks.

«The United Arab Emirates is Kazakhstan’s leading trade and investment partner in the Gulf region, with total investments surpassing $4.3 billion,» the president highlighted.

Yesterday, on May 12, Kursiv.media reported that Tokayev gave the green light to the one-gigawatt wind farm joint project with the UAE.