ASTANA – During the official visit of Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, to Kazakhstan on May 12, the two nations finalized additional commercial agreements 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 endorsed the signing of over 20 agreements totaling $5 billion.
Among the most recent agreements are an investment deal for constructing a sugar plant in Kazakhstan, a memorandum for establishing a data processing center, a partnership agreement between the education department of Astana and the Emirates Kazakhstan Education Investment Group, and a memorandum related to data protection cooperation.
President Tokayev and Crown Prince Al Nahyan visit the AIFC. Photo credit: Akorda
KazMunayGas Engineering collaborated with AIQ, the UAE’s artificial intelligence leader, to sign a strategic agreement aimed at exchanging knowledge and developing solutions.
Khalifa Economic Zones Abu Dhabi has also entered into two cooperation memoranda: one with the Atameken National Chamber of Commerce and another with the Seaport Aktau special economic zone. Additionally, Semurg Invest and Abu Dhabi Ports Group established foundational principles for the construction and expansion of the Kuryk multi-purpose terminal.
A memorandum of understanding aimed at enhancing trade and procurement of agricultural products was also signed.
President Tokayev emphasized the UAE’s significance as Kazakhstan’s foremost trade and investment ally in the Gulf region, noting that Emirati investments in Kazakhstan have surpassed $4.3 billion. He underscored the synergy between Kazakhstan’s national priorities and the UAE’s Development Strategy 2031 in areas such as innovation, industrial progress, and diversification.
“We recognize substantial opportunities for enhancing collaboration across various economic sectors, including energy, logistics, finance, smart technologies, agriculture, and beyond. The momentum of our partnership is evidenced by several notable initiatives with Masdar, Presight, Abu Dhabi Ports Group, Terminal Holdings, and Abu Dhabi Commercial Bank,” he remarked.
Moreover, President Tokayev and Crown Prince Al Nahyan visited the Astana International Financial Centre (AIFC), where 46 companies from the UAE are currently active in sectors such as finance, insurance, information and communication technologies, trade, transport, manufacturing, and mining.
Connections between the capital markets are becoming stronger: Nasdaq Dubai and the Astana International Exchange (AIX) launched a direct depository link on May 7. Additionally, AIX has recently joined the Tabadul digital exchange platform set up by the Abu Dhabi Exchange in 2024.