Kazakhstan-Saudi Arabia Investment Forum kicks off in Nur-Sultan

The delegation of the Kingdom of Saudi Arabia led by Minister of Investment Khalid Al-Falih arrived in Nur-Sultan to participate in the 5th session of Kazakhstan-Saudi Arabia Intergovernmental Commission for trade and economic, scientific and technical and cultural cooperation.

In his opening remarks at the forum Minister of Trade and Integration of the Republic of Kazakhstan Bakhyt Sultanov spoke about the prospects Kazakhstan and Saudi Arabia have in terms of bilateral cooperation.

Minister Sultanov stressed that the forum is one of the most important instruments to strengthen bilateral cooperation between Kazakhstan and Saudi Arabia. He noted that Saudi Arabia is an important partner for Kazakhstan in Middle East and that close relations between the heads of states offer solid foundation for mutually profitable bilateral cooperation.

According to Sultanov, despite the consequences of the coronavirus pandemic the bilateral trade increased by 36.5% over the past seven months.

Bakhyt Sultanov went on to emphasize the similarities between the Saudi Vision 2030 and the Kazakhstan Development Program 2050 and that the countries have huge potential to strengthen cooperation. Presently, there are 11 enterprises with the Saudi Arabian capital in Kazakhstan.

The Kazakhstan-Saudi Arabia Investment Forum is held with the participation of over 170 representatives of business circles of both countries.