UAE-Kazakhstan economic boost: $5 billion agreements signed

The UAE has signed 22 agreements worth more than $5 billion with Kazakhstan. The agreements came during the recent visit of Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, to Kazakhstan.

During the visit, Sheikh Khaled and Kassym-Jomart Tokayev, President of the Republic of Kazakhstan, witnessed the exchange of several cooperation agreements and memoranda of understanding (MoUs) between senior officials from both the UAE and Kazakhstan.

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These agreements and MoUs covered vital sectors, including transport and infrastructure, renewable energy, digital and technological solutions, financial investment, and other significant areas of mutual priority for both nations.

During his visit, Sheikh Khaled and Kassym-Jomart Tokayev also attended the UAE-Kazakhstan Business Forum. The forum was also attended by Dr Thani bin Ahmed Al Zeyodi, UAE Minister of State for Trade; Arman Shakaliev, Kazakhstan Minister of Trade, along with senior officials, business leaders and investors from both nations. The forum sought to explore investment opportunities and strengthen efforts to increase mutual investments across key economic sectors, supporting shared goals for sustainable economic growth.

In a significant step to strengthen food security and international trade ties, prominent retail LuLu Group has announced its strategy to expand the availability of premium agricultural products from Kazakhstan across its retail stores in the UAE and the wider Middle East.

The announcement was made by Yusuffali M A, chairman of LuLu Group, who was part of the accompanying UAE delegation during a meeting with Saparov Aiderbek, Kazakhistan Agriculture Minister, and Arman Shakaliev. Yusuffali reaffirmed LuLu’s commitment to promoting Kazakhstan’s agricultural products in the UAE market and supporting sustainable trade partnerships. He emphasised that LuLu’s retail platforms will serve as a key gateway for Central Asian produce to reach consumers in the Middle East.

LuLu Group is set to source a wide range of agricultural goods from Kazakhstan, including lamb, beef, poultry, eggs, grains, fruits, and vegetables. 

As part of this strategic sourcing initiative, Lulu Group also signed a Memorandum of Understanding with Alel Agro, a leading Kazakhstan poultry company, to enhance the supply of poultry products to the UAE. The MoU ceremony was held in the presence of Kassym-Jomart Tokayev, the President of Kazakhstan and Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi.