Kazakhstan-Qatar trade turnover hits record high

Kazakhstan-Qatar trade turnover hits record high

Trade between Kazakhstan and Qatar reached a historic high, amounting to over $9.7 million in the first 11 months of 2023, and representing an almost 2.5-fold growth. Kazakhstan’s exports account for a large share of the mutual trade turnover, namely over 55 percent. The country’s government intends to increase exports to Qatar in 60 commodity items worth around $243 million, according to the ranking.kz portal. Over the past nine years, the amount of foreign direct investment from Qatar in Kazakhstan has exceeded $60 million. The two countries are also working on several investment programs. There are plans to build a grain processing plant worth $200 million in the Akmola region with Qatari investor participation. The parties have agreed to develop the agricultural sector in Kazakhstan as well. A direct investment fund involving Qatari and Chinese companies is expected to be established, aiming to develop the dairy cluster, including production, processing and export. In addition to the agriculture, Qatari investors are interested in investing in areas such as tourism and healthcare.