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Kazakhstan Opens its Doors to Saudi Investors - ASHARQ AL-AWSAT English Archive
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Riyadh – Kazakhstan is launching new initiatives to attract foreign investments in agriculture and food production, as well as major opportunities in vital sectors, such as energy and industry.

Kazakhstan Ambassador to Saudi Arabia Bakyt Batyrshayev said he expected that the year 2017 would bear the fruits of 11 agreements between his country and the Kingdom. Those agreements were signed during a recent visit conducted by Kazakhstan President Nursultan Nazarbayev to Riyadh, within efforts to boost economic ties between the two countries.

In comments to Asharq al-Awsat newspaper on Thursday, Batyrshayev said that the coming year would witness increased commercial exchange and new strategic partnerships between Astana and Riyadh.

He noted that bilateral agreements covered a number of economic and industrial fields, including agricultural, food and animal production, as well as petrochemicals and oil industries.

The ambassador also said that there were major opportunities to boost economic cooperation between the two countries, including Kazakhstan’s ability to achieve a greater production of wheat as a vital food industry. He added that his country was a leader in wheat production, as it produces around 15 to 20 million tons of wheat annually.

The official also highlighted the importance of other food industries in Kazakhstan’s economy, such as meat and other agricultural products. He added that his country was keen on benefiting from Saudi Arabia’s expertise in petrochemical industries.

He noted that alike the Kingdom of Saudi Arabia, his country was working on the implementation of a reform program under the slogan of “Kazakhstan 2030”, whereas 70 percent of the program has been already executed.

In this regard, ambassador stressed the importance of promoting partnership with Saudi Arabia to help achieve both countries’ reform goals.

Kazakhstan, Kazakhstan Ambassador to Saudi Arabia Bakyt Batyrshayev, Kazakhstan President Nursultan Nazarbayev, Saudi Arabia

Photo caption: REUTERS/Sandro Campardo/Pool

WTO Director general Roberto Azevedo exchanges documents with Kazakhstan’s President Nursultan Nazarbayev during the accession ceremony at the World Trade

Organization (WTO) headquarters in Geneva, Switzerland, July 27, 2015