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Malaysia-Kazakhstan Identify Key Areas To Boost Bilateral Trade Collaborations

By Wednesday April 18th, 2012 No Comments

PUTRAJAYA, April 18 (Bernama) — Prime Minister Datuk Seri Najib Tun Razak and Kazakhstan President Nursultan Nazarbayev have identified several key economic areas to further boost bilateral trade between the two countries.

“We have identified specific opportunities and greater collaborations between our countries,” he told a joint press conference with Nazarbayev after the Malaysia-Kazakhstan delegation meeting here today.

Although the bilateral trade currently at US$60 million would increase eventually, he said that it was not reflective of the immense potential which exists between both countries.

Last year, total trade between both countries was US$61.1 million (RM183.3 million) with Malaysia’s imports amounting to US$1 million (RM3 million), while exports totalled US$60.1 million (RM180.3 million).

“The president (Nazarbayev) has indicated some specific areas which Malaysian companies can look for many new opportunities, namely in the field of oil and gas, construction, which includes highways, hospitals, infrastructure development, airports construction and even airports management,” he said.

He also said other opportunities include information technology, industrial facilities development, financial services, including Islamic banking, tourism, education and mineral exploration.

“We also take note of his Excellency’s (Nazarbayev) strong desire for Malaysia to build Malaysian design buildings in Astana (Kazakhstan’s capital city),” he added.

Nazarbayev said Kazakhstan was embarking on programmes to make its economy more innovative and welcomed more Malaysian companies to participate in the programmes.

“We are very intense in making our economy more innovative and we are building about 200-300 new industrial facilities every year in Kazakhstan and by 2020, we will have invested US$50 billion for this programme.

“These are good opportunities for Malaysian companies to explore from these projects,” he added.

Nazarbayev arrived yesterday for a two-day state visit to Malaysia. This is his third state visit to Malaysia in 16 years (after 1996 and 2006), signalling the close bond between Malaysia and Kazakhstan.

Source : Bernama

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