каз/рус

According to Director of the Department for Foreign Economic Policy of the Ministry of Foreign Affairs of Kazakhstan, Olzhas Issabekov, in the first quarter of 2018 a number of high-level visits have been held. So, in January Nursultan Nazarbayev made an official visit to the United States, in March, the presidents of Tajikistan and Uzbekistan visited Astana. Following the results of the talks, 46 documents worth more than $7 billion have been signed.

"Of particular importance is the official visit of the Head of State to the UAE. This country is one of the strategic partners of Kazakhstan in the Persian Gulf. I would like to note the significant growth in mutual trade between our countries in 2017, which reached $643.1 million, having increased by 71.9% ($374 million) as compared to 2016," O. Issabekov stressed.

Since 2005, gross inflow of direct investments from the UAE to Kazakhstan has exceeded $2 billion.

The key result of the visit was the signing of six bilateral documents worth over $9 billion.

According to the director of the MFA RK department, the conclusion of the Intergovernmental Agreement on the Promotion and Mutual Protection of Investments, which lasted for 20 years, will provide Kazakhstani and Emirates investors with long-term stability and predictability of the legal environment, will promote investment, trade and economic cooperation between the two countries.

O. Issabekov also spoke about Kazakhstan's participation in the World Expo-2020 exhibition in Dubai and the role of the Astana International Financial Center.

According to the MFA RK representative, the World Expo-2020 in Dubai will be held on the theme: "Connecting Minds, Creating the Future." For the construction of the Kazakhstan pavilion, the Emirate side provided a large plot of 3420 m2 in the thematic cluster "Opportunities," next to the pavilions of the UAE, Monaco, Switzerland, Luxembourg, Belarus and corporate pavilions.

"A significant result of foreign policy work was also the entry into force on March 10, 2018 of a visa-free regime with the UAE for citizens of both countries," O. Issabekov stressed.

Answering the journalists' question about the role of the Astana International Financial Center in attracting investments, the Foreign Ministry spokesman noted that AIFC in its work widely uses the experience of the International Financial Center in Dubai. It is expected that representatives of the UAE will attend an international presentation of the AIFC, which will be held in July this year.

In general, the external economic guidelines outlined by the country's leadership are laid as defining throughout the entire range of activities of the MFA RK. The foreign policy department, especially in promoting economic diplomacy, attracting foreign investment, acts as an important link between internal mechanisms and external partners. This multifaceted work will be continued, O. Issabekov noted.

"The active participation of the UAE representatives in major international events held in Kazakhstan, including the International Specialized Exhibition Astana Expo-2017, the Astana Economic Forum, the International Exhibition of Weapons Systems and Military Equipment “KADEX,” and etc.," O. Issabekov summed up.

For reference: For 2017, according to the State Revenue Committee of the Ministry of Finance, exports of Kazakhstan amounted to $558.8 million (+ 83.1%), imports - $84.3 million (+ 22.2%). In January 2018, the trade turnover between Kazakhstan and the UAE was $57.7 million, exceeding the same period in 2017 by 70.4% ($33.9 million).