Kazakhstan and Saudi Arabia have bolstered their strategic partnership
At the sixth meeting of the Kazakh-Saudi Intergovernmental Joint Committee on Trade, Economic, Scientific, Technical, and Cultural Cooperation held in Riyadh on December 20, Kazakh Deputy Prime Minister and Foreign Minister Murat Nurtleu emphasized the crucial significance of enhancing collaboration between the public and private sectors of both Kazakhstan and Saudi Arabia, as conveyed by the press service of the Kazakh Foreign Ministry.
A round table for Kazakh-Saudi investments convened during the same period, gathering over 100 business representatives from both nations. Deputy Prime Minister and Foreign Minister Murat Nurtleu highlighted the immense potential of the Saudi market for enhancing trade and economic ties, emphasizing the boundless opportunities for expanding investment collaborations.
Nurtleu outlined key areas for deepening cooperation, including green energy, food security, transport, logistics, mining, petrochemicals, agriculture, finance, and tourism. He positioned Saudi Arabia as a pivotal partner for Kazakhstan on the global stage and in the Middle East.
Recognizing the foundational relationship between their leaders, Nurtleu emphasized the vast prospects stemming from these personal connections, creating a strong base for bilateral cooperation.
During the investment round table, Nurtleu acknowledged the ongoing active development in the comprehensive relations between Astana and Riyadh, despite the challenging global economic landscape. He encouraged Saudi companies to explore Kazakhstan’s potential and consider establishing joint ventures, leveraging mutual interests from both countries' business sectors.
The Development Bank of Kazakhstan and the Saudi Export-Import Bank solidified their collaboration by signing a memorandum of understanding. Additionally, following the sixth meeting's protocols, the parties intend to establish a joint innovation hub in the near future. This hub aims to facilitate the entry of Kazakh startup projects into the markets of the Middle East and North Africa, positioning Kazakhstan as an IT hub.
Furthermore, an agreement was reached between Kazakhstan and Saudi Arabia regarding visa exemptions for holders of diplomatic and service/special passports.
