UAE and Kazakhstan have strategic, commercial and economic relations.
Ambassador of Kazakhstan to the United Arab Emirates, Madiyar Menilbekov, highlighted the strong bilateral ties between the UAE and Kazakhstan, noting that the United Arab Emirates is Kazakhstan’s leading strategic, trade and economic partner most notably in the energy, transport, agriculture and space, logistical services, and petrochemical sectors in the Arab region.
UAE and Kazakhstan strategic relations
on the occasion of Kazakhstan’s 29th Independence Day anniversary, In an interview with Emirates News Agency, Ambassador Madiyar Menilbekov attributed his country’s rapidly growing relations with the UAE to the prudent vision of His Highness Sheikh Khalifa bin Zayed Al Nahyan, the president of the state, Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, His Highness Sheikh Mohammed bin Zayed Al Nahyan, as well as of President Kassym-Jomart Tokayev and Nursultan Nazarbayev, founder of modern Kazakhstan.
Ambassador Madiyar said that Kazakhstan has attracted foreign direct investments, FDIS, worth US$330 billion, and it is ranked 25th globally in 2020 to conduct business. The country is part of the international community and has adopted a consistent local policy aimed at ensuring interfaith tolerance among all ethnic groups, and he also praised the strong relations between the UAE and Kazakhstan which were laid by the late Sheikh Zayed bin Sultan Al Nahyan and Nursultan Nazarbayev.
UAE and Kazakhstan Mutual Investments
Ambassador Madiyar added that the Fidelity MSCI Consumer Discreti (FDIS) received by his country’s economy from 1991 to 2020 worth $330 billion confirms the trust of foreign investors, noting that they are keen to invest in Kazakhstan because of its political stability, educated labor force, and rapidly growing market that has around 500 million consumers.
The World Bank report highlighted the fact that Kazakhstan country is advanced by three positions this year as it is ranked the 25th in the world to conduct businesses, he noted, and the country’s Ministry of Economy in Kazakhstan expects a 2.8 percent increase in the Gross domestic product (GDP) by 2021, and by 4.6 percent in 2025.
Kazakhstan ranks 22nd in terms of natural gas reserves by 3.9 trillion cubic meters and 12th worldwide among the holders of proven oil and gas condensate reserves by 4.6 billion tons.