Trade Turnover Between Kazakhstan And Singapore To Reach Billions Soon - President Tokayev

2024-05-23 05:22:02

(MENAFN- Trend News Agency) ASTANA, Kazakhstan, May 23 . The trade turnoverbetween Kazakhstan and Singapore is soon expected to exceed $2billion, the President of Kazakhstan Kassym-Jomart Tokayev saidduring negotiations with President of Singapore TharmanShanmugaratnam, Trend reports via Akorda.

"Today, more than 140 Singaporean companies and joint venturesoperate in our country, with the total volume of Singaporeaninvestments in the Kazakh economy surpassing $1.7 billion. Despitethe economic disruptions and difficulties caused by the pandemic,the volume of mutual trade is expected to soon exceed $2 billion,"Tokayev said.

He referred to Singapore as a time-tested and reliable partnerfor Kazakhstan. During the meeting, the leaders of the twocountries extensively discussed prospects for expanding contacts intrade, economics, investment, and cultural-humanitarianspheres.

In particular, Tokayev expressed Kazakhstan's interest inexpanding partnership with Singapore in key sectors such as energy,processing of critical raw materials, infrastructure development,the digital economy, fintech, agrotechnology, logistics, andcommunication.

The presidents agreed to jointly promote mutually beneficialinvestment projects, including strengthening the legal framework ofbilateral relations.

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