The Minister of Trade proposed to the business of Saudi Arabia to create joint productions

Today, on September 27, 2021, at the Kazakh-Saudi Investment Forum in Nur-Sultan, Minister of Trade and Integration Bakhyt Sultanov called on the business of Saudi Arabia to participate in joint projects.
The Minister noted that the Kingdom of Saudi Arabia is an important partner of Kazakhstan in the Middle East. "Close contacts between the heads of our states give a solid foundation for modern mutually beneficial and equal cooperation. A productive dialogue has been established between our countries, both in a bilateral format and within the framework of multilateral cooperation," B. Sultanov said.
He also said that our countries have similar plans for structural changes in their economies: "Our state programs-the Saudi Arabia Development Program "Vision-2030 "and the Development Strategy" Kazakhstan-2050"have the same goals: economic diversification, reducing dependence on natural resource exports and joining the ranks of the most developed countries in the world."
The Minister of Trade and Integration also said that Kazakhstan and Saudi Arabia have the potential to increase cooperation in many areas. He noted that currently there are only 11 enterprises with the participation of Saudi capital operating in Kazakhstan. They mainly work in wholesale and retail trade, information and communications, and in real estate transactions.
Speaking to the business leaders of the KSA, Bakhyt Sultanov called on " the business community of our fraternal people to mutually beneficial cooperation on investment projects, the joint implementation of which will give a new impetus to bilateral economic relations." At the same time, he said that Kazakhstan welcomes the participation of Saudi Arabia's business in projects aimed at the development of high-tech and export-oriented production.
The Head of the Ministry of Trade of the Republic of Kazakhstan informed Saudi entrepreneurs about projects to create a network of border industrial trade and logistics hubs that will serve as reference points of the Unified Commodity Distribution System of the EAEU and Central Asian countries. And also about the plans for the development of the South-North and East-West transport corridors and the centers-counterregulators of overland cargo transportation of the ICTES "Central Asia", the Dry port "Khorgos" and the port "Kuryk".
"We propose to use them to comprehensively develop clusters of interregional and international trade, the provision of logistics services in accordance with the best international practices, to form clusters for the production of various regional products, which will ensure the formation of stable cooperation ties at the international level," Sultanov said.