ASTANA – During the official visit of Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan to Kazakhstan on May 12, several new commercial agreements were finalized at the Kazakhstan-UAE business forum, as reported by Akorda.
Kazakhstan-UAE business forum. Photo credit: Akorda
Previously, President Kassym-Jomart Tokayev and Crown Prince Al Nahyan expressed their approval of more than 20 commercial agreements amounting to $5 billion.
Recent agreements include an investment deal for a sugar factory in Kazakhstan, a memorandum for establishing a data processing center, a cooperation memorandum between Astana’s education department and the Emirates Kazakhstan Education Investment Group, and a data protection cooperation memorandum.
President Tokayev and Crown Prince Al Nahyan visiting the AIFC. Photo credit: Akorda
KazMunayGas Engineering partnered with AIQ, the UAE’s leading AI firm, to establish a strategic cooperation agreement focusing on knowledge sharing and solution development.
Khalifa Economic Zones Abu Dhabi signed two cooperation memoranda: one with the Atameken National Chamber of Commerce and the other with the Aktau Seaport special economic zone. Additionally, Semurg Invest and Abu Dhabi Ports Group reached an agreement on the foundational principles for constructing and developing the Kuryk multi-purpose terminal.
Furthermore, a memorandum of understanding was established to enhance trade and procurement of agricultural products.
President Tokayev underscored the UAE’s significance as Kazakhstan’s main trading and investment ally in the Gulf region, noting that Emirati investments in Kazakhstan surpassed $4.3 billion. He emphasized the alignment of Kazakhstan’s national priorities with the UAE’s Development Strategy 2031, particularly in areas such as innovation, industrial growth, and diversification.
“We recognize substantial potential for enhancing collaboration across various economic sectors, including energy, logistics, finance, smart technologies, and agriculture. The momentum of our partnership is validated by several key projects involving Masdar, Presight, Abu Dhabi Ports Group, Terminal Holdings, and Abu Dhabi Commercial Bank,” he remarked.
Additionally, President Tokayev and Crown Prince Al Nahyan visited the Astana International Financial Centre (AIFC), which hosts 46 companies from the UAE working in finance, insurance, information and communication technologies, trade, transport, manufacturing, and mining sectors.
The connections between capital markets are strengthening: a direct depository link between Nasdaq Dubai and Astana International Exchange (AIX) was launched on May 7, and AIX has also joined the Tabadul digital exchange hub initiated by Abu Dhabi Exchange in 2024.