UAE’s investment in Kazakhstan increases twofold
The UAE investment in Kazakhstan has doubled compared to the same period last year and totaled almost US$129 million over the first six months of 2022. It is noted that the trade volume between the two states exceeded US$550 million for the period from January to August, while exports reached nearly US$515 million. The parties are boosting cooperation in the investment, trade, economic, cultural and humanitarian spheres. They are currently implementing joint projects in various areas including education and science, agriculture, energy and renewable energy sources, mining and metallurgical complex, construction, transport and logistics. It was previously reported that Kazakhstan has invited the UAE to support the development of ports in the Caspian Sea. The projects are planned to be implemented through private investment. Thus, by 2025, the parties intend to create a container hub in the Aktau port and the Aktau Seaport special economic zone. The project will increase the volume of container traffic from 40,000 to 215,000.