Today, Astana hosted a
Kazakhstan-Malaysia business forum with the participation of the Prime
Ministers of the two countries. During the event, the parties signed agreements
worth over $350 million. Now, the states plan to collaborate in attracting
investments in the sphere of Islamic finance, trade development, food industry,
mining sector, gold processing, and joint production of transformer and motor
oils. Presently, a total of 48 companies with Malaysian capital are operating
in Kazakhstan, and 17 joint investment projects worth over $410 million are
being implemented. Moreover, in recent years, bilateral cooperation has
intensified, with trade volumes increasing by almost a third. Malaysia sees
even greater potential for mutually beneficial cooperation with Kazakhstan,
prioritizing energy, tourism and education sectors. Additionally, it expresses
readiness to purchase domestic halal products. Furthermore, Kazakh Prime
Minister Olzhas Bektenov called on Malaysian businesspeople to expand
partnership in the manufacturing industry, subsoil use, agriculture, and
construction.
“Malaysia is one of the important
markets for Kazakhstan. Our bilateral trade almost doubled in 2023 - from $150
million to almost $250 million. However, we aim to restore and exceed the
pre-Covid level of $650 million, which reflects the vast potential of our
economies. In this case, we are looking for ways to diversify our exports to
Malaysia and ready to explore new opportunities to strengthen our trade
partnership,” said Bektenov.
