Kazakhstani entrepreneurs secure contracts for food supply & IT services

The United Arab Emirates shows interest in Kazakhstani Agricultural Products, Food Items, and IT Services. As a result of a trade mission organized by QazTrade for domestic entrepreneurs in the emirate of Dubai, export contracts worth over $37 million have been concluded.Kazakhstan and the UAE have been nurturing mutually beneficial cooperation for 30 years. As noted by Vice Minister of Trade and Integration, Kairat Torebayev, during the opening of the business negotiations, our countries have strengthened economic development through mutual investments and continue to work on joint projects."In line with the President of Kazakhstan's goal of increasing trade with the UAE, we are expanding our collaboration with our partners and facilitating business entry into the markets of our countries. In the medium term, Kazakhstani companies are prepared to supply around 90 types of goods to the Gulf country, worth approximately $440 million," said Kairat Torebayev.This includes products from the metallurgical and chemical industries, the food industry, machinery, vehicles, construction materials, and pharmaceuticals.Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: “The UAE is proud to be Kazakhstan’s leading trade and economic partner in the Arab region. The number of companies from Kazakhstan in Dubai has been steadily rising, underlining the strong interest in the emirate among the nation’s business community. We believe there is significant room for further growth in bilateral trade and investments, and remain committed to working together to leverage opportunities for mutual cooperation between our markets.”The UAE market holds appeal for Kazakhstan, being part of the list of priority export destinations for goods produced in Kazakhstan. In 2022, Kazakhstani entrepreneurs exported products worth $560.3 million to the UAE. Organic agricultural products of domestic production have substantial potential for entering the Gulf countries' market. Just in the past year, meat exports from Kazakhstan to the Emirates increased by a factor of 8.According to Vice Minister of Trade and Integration, Kairat Torebayev, UAE companies, in turn, can invest in joint ventures, agricultural production development, the implementation of modern technologies, and the creation of new products.In the trade and economic mission in Dubai, 30 Kazakhstani food producers, chemical industry suppliers, IT service providers, and others participated. The total value of the concluded export contracts exceeded $37 million. Agreements were reached for the supply of dietary supplements, vegetable oil, mineral water, confectionery products, microspheres, and IT services.