October 9-10, 2021, the Prime Minister – Askar Mamin made a business trip to the United Arab Emirates. In Abu Dhabi, the Head of Government held the negotiations with the Deputy Prime Minister, Minister of Presidential Affairs of the United Arab Emirates – Sheikh Mansour bin Zayed Al Nahyan, as well as the leadership of state development institutions and holdings of Abu Dhabi Developmental Holding Company (ADQ) and the other UAE leading companies. The parties discussed the progress in the implementation of the agreements reached earlier and the prospects for bilateral cooperation in trade and economic, financial and investment, energy, transport and logistics, agro-industrial and other spheres. Currently, Emirati companies are involved in the implementation of 11 large investment projects in Kazakhstan with a total value of over USD 3.5 bln.
Following the negotiations, an intergovernmental agreement was signed to establish a long-term strategic partnership to develop projects in priority sectors of the economy. The document is aimed at projects implementation in the energy, agro-industrial, transport and logistics, pharmaceutical and financial sectors of the national economy of the Republic of Kazakhstan with a total investment of more than USD 6 bln.
The main partner of Kazakhstan in the agreement implementation will be the Abu Dhabi sovereign fund ADQ. It is widely represented in such sectors as manufacturing and mining, agribusiness, transport and logistics, finance, tourism, media and energy. The fund manages assets worth more than USD 175 bln. Within the framework of agreement, Samruk-Kazyna JSC intends to establish strategic cooperation with ADQ and create a joint energy holding company to develop the renewable and traditional energy.
It is planned to implement joint projects for the construction of solar, wind and hydroelectric power plants in Kazakhstan with a total capacity of 5 GW, etc. Moreover, Kazyna Capital Management JSC and ADQ will establish a joint venture fund for USD 100 mln. to finance joint start-up projects in IT, fintech, agrotech, B2B and B2C, telecommunications, food production technologies, platform solutions and digital transformation, etc. The ADQ will take part in construction of a network of wholesale distribution centers in the Republic of Kazakhstan. The company is also considering the possibility of implementing a number of large projects in meat farming, poultry farming and fruit gardening in Kazakhstan. SK-Pharmacia LLP and Rafed company will cooperate in the development of the pharmaceutical industry of the Republic of Kazakhstan.
Within the framework of the visit, the Akimat of the East Kazakhstan region, Sembol and Abu Dhabi Fund for Development companies signed a Cooperation Agreement to implement the project for Katon-Karagai tourist complex construction in the East Kazakhstan region. Memorandums of Understanding were signed between the Ministry of Agriculture of the Republic of Kazakhstan and the Ministry of Climate Change and Environment of the UAE, as well as between the AIFC and the Abu Dhabi Global Market Financial Center (ADGM) and the Abu Dhabi Securities Exchange (ADX).
Moreover, the postal services of Kazakhstan and the United Arab Emirates carried out a joint issue of two postage stamps on the theme “30 years of Independence of the Republic of Kazakhstan. 50 years of the United Arab Emirates formation”. Series – “Memorable and Anniversary Dates”.
In Dubai, the Prime Minister visited the EXPO 2020 Dubai international exhibition where he was acquainted with the Kazakhstan, the United Arab Emirates, and the Russian Federation national pavilions.
The following Ministers participated in the business trip i.e. the Minister of the National Economy – Asset Irgaliyev; the Minister of Agriculture – Yerbol Karashukeyev; the Minister of Justice – Marat Beketayev; the Akim of the East Kazakhstan region – Danial Akhmetov; the Chairman of the Board of Samruk-Kazyna JSC – Almasadam Satkaliyev; the Deputy Chairman of the Agency for Strategic Planning and Reforms – Zhaslan Madiyev; the First Vice Minister of Energy – Murat Zhurebekov; Ambassador of the Republic of Kazakhstan to the UAE – Madiyar Menilbekov; representatives of the business community of the Republic of Kazakhstan.
