v + T – normal size
24 companies from Dubai discussed prospects for enhancing their exports to the Kazakh market, and opportunities to establish business for them in the cities of Astana and Almaty, and held a series of bilateral business meetings with companies and investors from Kazakhstan, with the support and coordination of the Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers.
This came during the activities of the business forum held in Astana, the capital of the Republic of Kazakhstan, the second stop of the trade mission organized by Dubai International Chamber to the Central Asia region, which includes 24 companies operating in the emirate from 16 sectors and various economic activities.
The forum, which was organized in Astana, was attended by more than 200 government officials and representatives of Kazakh companies wishing to cooperate with Dubai companies, while the visit of the Dubai International Chamber mission to Kazakhstan witnessed the organization of more than 180 bilateral business meetings between Dubai companies participating in the mission and Kazakhstan companies in each of the two cities of Astana. and Almaty.
Dubai International Chamber’s organization of the trade mission comes as part of the “New Horizons for External Expansion” initiative that it launched with the aim of supporting the expansion of the Chamber’s members and the emirate’s companies in foreign markets. The initiative is based on forming specialized trade missions composed of emirate companies to targeted global markets, and organizing events and meetings in these markets with the aim of exploring investment opportunities and joint economic partnerships.
external expansion
The “New Horizons for External Expansion” initiative is part of the Chamber’s efforts to stimulate the international expansion of its members towards new markets, and it is a continuation of the “Business Opportunities Under Microscope” initiative, which focuses on providing a platform to review investment opportunities in these markets before traveling to them. The two initiatives are integrated with the strategic priorities of the Chambers in supporting the external expansion of the members of the Chamber, in addition to contributing to achieving the Dubai Foreign Trade Plan aimed at increasing the volume of non-oil foreign trade to 2 trillion dirhams by 2026. The Dubai International Chamber focuses on supporting the expansion of 100 companies from Dubai to global markets within the next two years.
important market
Mohammed Ali Rashid Lootah, Director General of the Dubai Chambers, who headed the trade mission, pointed out that Kazakhstan is an important market for diversifying the exports of the Chamber’s members, stressing that economic diversification is an essential part of future plans, considering that the exports and re-exports of the Chamber’s members to Kazakhstan in the year 2022 It reached about 192 million dirhams, which is a figure that is not commensurate with the capabilities and capabilities of the two sides in the field of trade, stressing that the trade mission aims to improve trade exchange and enhance the exports of Dubai merchants to the Central Asian markets.
Lootah stressed, “The number of Kazakh companies registered in the Chamber’s membership increased by about 82% during the period 2016-2022, as the number increased from 351 companies at the end of 2016 to about 637 companies by the end of 2022. If we look at the number of exporters among the members The Chamber exported to Kazakhstan during the year 2022, as their number reached 119 exporters, which is a small number that we hope will increase, and the current trade mission aims to increase the number of exporters from Dubai to Kazakhstan, which we consider among the priority markets for the external expansion of our companies.
For his part, Ardak Zybyshev, Chairman of the Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan, said that the United Arab Emirates has invested in Kazakhstan since 2011 until now about $ 2 billion, indicating that Kazakhstan’s trade with the UAE is developing, as its value at the end of 2022 reached about 632.6 million US dollars, of which 72.3 million US dollars were exports from the UAE to Kazakhstan.
Zibishev praised the efforts of the Dubai International Chamber in organizing the trade mission and business forum, which will contribute to the development of relations between the two sides, and develop them in a way that achieves common interests, and promotes the implementation of investment projects between the two parties.
Discussion session
A discussion session was held during the forum, which included a number of officials and experts in the fields of customs, logistics and banking services in Kazakhstan. Practical field visits to a number of companies’ headquarters. The delegation also visited the Astana International Financial Center on a working visit.
The business forum was organized in cooperation with the Embassy of the United Arab Emirates in Kazakhstan, the Kazakhstan Investment Authority, the International Chamber of Commerce in Kazakhstan, and the “Kaz Trade” Center for the Development and Development of Trade Policies.
The economic sectors and activities represented by the companies participating in the trade mission include building materials, e-commerce, environmental and electrical fields, fashion and clothing, free zones, home and hotel furniture, hospitality, medical equipment and supplies, perfumes, soaps, cosmetics, pharmaceutical products, renewable energy, and financial assets. retail, security printing, ocean freight and logistics as well as FMCG.
Kazakhstan.. A promising investment environment
In light of the increasing global demand for rare earth minerals due to the increase in imports of electric cars and solar energy panels, Kazakhstan, which is rich in mineral resources, is an important source for Dubai, which has a high demand for these earth minerals, which constitutes a good investment opportunity for metal manufacturing companies in Dubai (such as copper, silver, zinc and gold). ) to produce semi-finished or finished metal materials in Kazakhstan.
Agriculture and tourism are also ideal and promising sectors for investment, as Kazakhstan owns 210 million hectares of arable land, which creates great investment opportunities for Emirati food companies. Moreover, COVID-19 has boosted ecotourism in Kazakhstan, which can also create new investment opportunities for Dubai companies.
Kazakhstan can play an important role as a gateway for the passage of goods on the China-Europe route, as international cargo movements across Kazakhstan’s borders are likely to create great investment opportunities for Dubai companies.
Dubai International Chamber is committed to enabling Dubai companies to successfully expand in global markets, supported by Dubai International Chamber’s strong network of overseas representative offices around the world. The Chamber supports the emirate’s goals in raising the value of Dubai’s foreign trade from 1.4 trillion dirhams to 2 trillion dirhams by 2026.