(MENAFN- Trend News Agency) ASTANA, Kazakhstan, November 18. Kazakhstan's Aktobe Refinery and Estonia's Olerex have signed a cooperation agreement in the field of oil refining and transit, Trend reports via the Kazakh Invest.

The agreement was formalized during the Kazakh-Estonian Business Forum in Astana, establishing collaborative efforts in oil refining and the trade of marine fuel, leveraging Estonia's advanced infrastructure.

This agreement is part of a broader set of 11 commercial accords signed during the forum, collectively valued at over $517 million.

The forum, a central event in the official state visit of Estonian President Alar Karis to Kazakhstan, is accompanied by a business delegation consisting of 40 companies from diverse sectors, including logistics, transit, information and communication technologies, cybersecurity, and education.

During his meeting with President Karis, Kazakh President Kassym-Jomart Tokayev emphasized that Estonia's direct investments in Kazakhstan have surpassed $128 million since 2005. Presently, over 80 Estonian companies are operating successfully in Kazakhstan, with notable investments in logistics (CF&S Kazakhstan LLP), postal services (Omniva), and digital services (Bolt).

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