ASTANA, February 1, 2019 - A telephone conversation was held between the Minister of Foreign Affairs of Kazakhstan, Beibut Atamkulov, and the Minister of Foreign Affairs and International Cooperation of the United Arab Emirates, Sheikh Abdullah Bin Zayed Al Nahyan, at the UAE initiative.
During the conversation, the sides reviewed a wide range of issues of Kazakhstan-UAE relations at bilateral and multilateral forums. The foreign ministers discussed the schedule of upcoming events at the highest level in 2019, including the participation of Kazakhstan in the 46th session of the Organization of Islamic Cooperation CFM in Abu Dhabi.
Increase in trade, economic and investment cooperation was one of the main issues. An important tool in enhancing economic relations between Kazakhstan and the United Arab Emirates is the Kazakhstan-UAE Intergovernmental Commission on Trade and Economic Cooperation, the 7th meeting of which is scheduled to be held this May in Astana. The sides expressed satisfaction with the high level of trade and economic relations and the growth of investment between Kazakhstan and the United Arab Emirates.
B. Atamkulov expressed confidence in further expanding the scope of bilateral economic cooperation in the context of new functions of the Foreign Ministry of Kazakhstan to attract investment and promote export.
The UAE Foreign Minister informed that the UAE has put forward their bid to secure a seat as a non-permanent member in the UN Security Council for 2022-2023. In this regard, Sheikh Abdullah expressed interest in the experience of Kazakhstan in this reputable international organization.
In 2017, the trade turnover between Kazakhstan and the United Arab Emirates reached $ 643.0 million (export - $558.7 million, import - $84.3 million). In January-November 2018, the trade turnover amounted to $455.9 million (export - $389.5 million, import - $66.4 million).
The export structure is dominated by crude oil, natural gas, re-exported goods, seafood and dates. The import structure is prevailed by mechanical and transport equipment, food, chemical products.
The inflow of foreign direct investment from the UAE to the Republic of Kazakhstan from 2005 to 2017 is $1,950.9 million.
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