Dubai Chamber highlights Kazakhstan's investment potential

Atiq Juma Nasib, senior vice-president of Commercial Services at Dubai Chamber

The Dubai Chamber of Commerce and Industry in cooperation with Kazakhstan's National Agency for Export and Investment (Kaznex Invest) and the Embassy of the Republic of Kazakhstan to the UAE, hosted the Kazakhstan Export Briefing today in Dubai.
The event was attended by Kairat Lama Sharif, Ambassador of Kazakhstan to the UAE, Sergey Karplyuk, Deputy Mayor of Kazakhstan's Kostanay Region, and Askar Arynov, Managing Director, Kaznex Invest, who joined the visiting delegation which included top executives from 20 leading Kazakh businesses from a variety of sectors.
Atiq Juma Nasib, senior vice-president of Commercial Services at Dubai Chamber, explained that Kazakhstan is an important trading partner for Dubai, pointing out that bilateral non-oil trade has grown substantially in recent years to reach nearly $188 million in 2015. He explained that this volume accounted for more than half of all trade between the UAE and the Central Asian country.
"We see potential for increased cooperation between Dubai and Kazakhstan in several sectors, including infrastructure and logistics, tourism, real estate, construction, food and agriculture processing. We look forward to exploring some of those new and exciting opportunities," said Nasib.
He spoke about Dubai's position as a gateway for doing business with other GCC countries and key markets across Africa, Asia and other regions. With a vibrant investment environment, modern infrastructural and logistics facilities and access to over two billion consumers in the region, the emirate serves as a unique hub which Kazakh companies can benefit from, he added.
Kairat Lama Sharif, Ambassador of Kazakhstan to the UAE, stressed his country's commitment to boosting bilateral trade through continued dialogue.
"We are ready to establish new ties between our two countries and build on a trade relationship that began 25 years ago. We hope these negotiations will lay the foundation for closer relations and collaboration," said Sharif.
"UAE companies that do business within Kazakhstan's chemical, petrochemical, food industries and other priority sectors can benefit from a zero per cent corporate tax rate in free zones and other special incentives provided by our government. Foreign investors can also get up to 30 per cent reimbursement from the government on key projects," Arynov said. - business@khaleejtimes.com