In the period from 16 to 18 October 2019, with the assistance of the Embassy of Kazakhstan in Malaysia, the Malaysian business delegation visited southern capital of Kazakhstan-Almaty.
The Malaysian side was represented by 16 public and private companies representing various sectors of the economy such as energy, health, agriculture, construction, islamic finance, electronics and information technology. Malaysian delegation was represented by the companies such as «Aquila Emas», «BS2B», «DASTO», «Green House», «IMP», «IDRICA», «ZHULIAN» etc. headed by the Deputy CEO «Malaysia External Trade Development Corporation» (MATRADE) Mustafa Abdul Aziz.
The business forum, organized with the support of the Tourism and Trade Office of the Embassy of Malaysia in the Republic of Kazakhstan,during the visit was attended by the heads of Kazakhstan state structures, development institutions, national companies, as well as representatives of small and medium-sized businesses.
The Kazakhstan side noted the country's interest in deepening bilateral cooperation in such promising areas as islamic finance, halal industry, e-commerce, tourism, healthcare, information security.
Mustafa Abdul Aziz stressed the importance of holding such meetings to promote the expansion of business ties between the countries.
On the sidelines of the forum, the participants were acquainted with the measures taken to improve the investment climate, as well as export, transport and logistics opportunities of the Republic of Kazakhstan.
Following the meeting, the parties signed Memorandums of cooperation between the companies «Biohayat» and «F&N Diaries Manufacturing» in the field of distribution and soft drinks production as well as between the companies «Al-Saqr Finance» and «CSQ Law» in the field of islamic financing and attracting potential investors.
Agreement was reached between the Malaysian company «Aquila Emas» and «Kazakh Tourism» to shoot a film about the main attractions of Kazakhstan in the spring of 2020.
During the meetings and negotiations held on the sidelines of the B2B forum, the business circles of the two countries expressed interest in further expanding and deepening trade, economic and investment cooperation.
Today, Malaysia is among the key trading partners of Kazakhstan in the South-East Asia region. In 2018, the volume of bilateral trade increased almost four times compared to 2017 ($123.4 million, $82.9 million in 2016) and total was $478 million. In January – August 2019, mutual trade amounted to $605.3 million and grew almost 5 times compared to the same period in 2018 ($112,7 million). The export of Kazakh products in January – August 2019 amounted to $541.5 million and import – $63,8 million.
Currently, Kazakhstan, together with Malaysian companies and investors, is implementing a number of projects in the oil and gas, agricultural and construction industries totaling about $1 billion.
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