Issues of activating trade, economic and business ties between Kazakhstan and Saudi Arabia were discussed in Riyadh

On November 21, 2023, H.E. Mr. Berik Aryn, the Ambassador of Kazakhstan to Saudi Arabia, held a meeting with H.E. Mr. Mohammad Alabduljabar, the Acting Governor of General Authority of Foreign Trade (GAFT) of the KSA.

During the meeting, the parties discussed the issues of activating of bilateral cooperation in trade, economic and investment spheres. In this regard, they noted the positive dynamics of growth of mutual trade turnover over the past two years.

Amb. B.Aryn briefed about the current political and socio-economic development of Kazakhstan. In particular, he informed about the measures taken by the Government to create a favorable business climate for domestic and foreign entrepreneurs and called on Saudi businessmen to actively engage in the work to increase the volume of mutual trade turnover and the implementation of joint investment projects.

In his turn, Mr. M.Alabduljabar noted that Kazakhstan is an important partner for Saudi Arabia and fully supported the proposals of the Kazakh side to intensify bilateral cooperation and assured that he would make all necessary efforts to expand existing and establish new business contacts between two countries.

In this context, they reviewed the preparation process of the First Business Workshop between Kazakhstan and Saudi Arabia, which will be held on November 26-27, 2023, in Riyadh in the framework of the trade mission of the Ministry of Trade and Integration of Kazakhstan and company «Qaztrade», as well as the upcoming in December this year, the first meeting of the Kazakhstan-Saudi Business Council. 

Following the results of the meeting, the parties agreed to start practical steps to activate the work of the newly created Business Council, to organize joint events in the form of "B2B" meetings, to explore the search for solutions to logistical issues, to exchange the nomenclature of goods produced in the two countries, etc.

The General Administration of Foreign Trade (GAFT), established by the resolution of the Council of Ministers in 2019, is a governmental organization with financial and administrative independence and has broad authority in the field of foreign trade. As part of its activities, GAFT develops foreign trade policy and strategy, coordinates the activities of the government and private sectors, and represents the interests of the Kingdom in regional and international trade organizations and forums.