Kazakhstan-Saudi Arabia trade turnover triples

New projects and investments in the field of critical minerals were among the key topics discussed during a meeting between Kazakh Prime Minster Olzhas Bektenov and Saudi Arabia’s Industry and Mineral Resources Minister Bandar Al-Khorayef. The sides focused on cooperation in the mining and metallurgical sector – from geological exploration and mineral extraction to deep processing and the development of high value-added industries. Saudi Arabia remains one of Kazakhstan’s key economic partners in the Middle East. Last year, mutual trade increased by 17%, reaching nearly $12 million. Positive momentum has continued this year as well, with trade turnover rising nearly threefold over four months. The participants of the meeting noted that additional impetus to bilateral cooperation should be provided by the agreements on mutual investment promotion and protection, as well as the establishment of the Kazakhstan-Saudi Arabia Coordination Council, signed in February. Following the talks, the parties reaffirmed their commitment to expanding industrial partnership.

Web-editor: Арайлым Серқанова