Exports From Kazakhstan to Saudi Arabia Amounted to 1.3 Million Dollars

On July 29, Almaty hosted the Kazakh-Saudi Business Council, which was attended by representatives of business and government agencies of Kazakhstan and Saudi Arabia. Among the participants were the co-chairmen of the Board: Kanat Kudaibergen, CEO of GreyWolf Management LLP, and Ahmed Ali Al-Dahil, CEO of Al Rajhi International for Investment.

The event was opened by Chairman of the Chamber of International Commerce of Kazakhstan Murat Karimsakov, who welcomed the participants and stressed the importance of long-term cooperation between the two countries.

"Kazakhstan and Saudi Arabia have a long history of cooperation based on mutual respect and partnership. As you know, Kazakhstan, in its trade, economic and investment policy, attaches special importance to strengthening cooperation with the Kingdom of Saudi Arabia, in particular, in such important areas as renewable energy, transport and logistics, construction, IT, tourism, agriculture and industry," said the Chairman of the Chamber of International Commerce.

Thus, the trade turnover between Kazakhstan and Saudi Arabia in January-April 2024 amounted to 3.7 million US dollars. Exports from Kazakhstan to Saudi Arabia increased by 78.1% during this period and amounted to 1.3 million US dollars. The main exports from Kazakhstan are propylene polymers, mutton and goat meat, special-purpose machinery and mechanical devices, fat from cattle, sheep or goats, devices and devices used in medicine, styrene polymers, ferrous metal products, ferrous metal containers with a capacity of more than 300 liters and bearings.

In his speech, Murat Karimsakov stressed that Saudi Arabia is actively developing the field of esports, as confirmed by the 2024 Riyadh Masters championship held in July with a prize pool of five million dollars. In addition, Saudi Prince Faisal bin Bandar bin Sultan Al Saud was recently elected President of the International Esports Federation (IESF), which opens up new opportunities for cooperation in this field. All this is in line with the initiatives of the President of Kazakhstan, Kassym-Jomart Tokayev, to develop esports in Kazakhstan as a promising area for young people. Earlier, the head of the republic attended the opening ceremony of the "Games of the Future" in Kazan, noting the uniqueness of this tournament, combining physical activity and digital technologies.

"Today, Kazakhstan is actively working to attract foreign investment and create a favorable business environment. The Chamber of International Commerce of Kazakhstan is ready to support the initiatives of investors and entrepreneurs by offering turnkey services for finding partners, supporting projects and organizing B2B and B2G meetings," Murat Karimsakov added.

During the Business Council, the participants discussed key areas of cooperation and economic reforms aimed at improving the business infrastructure in Kazakhstan. Special attention was paid to the development of the digital ecosystem, including an Interactive Investment Map for monitoring and supporting small and medium-sized businesses.

Concluding his speech, Karimsakov thanked the guests and colleagues for participating in the business council and expressed confidence that the successful implementation of the planned projects would create more attractive conditions for cooperation and economic growth in both countries.