Trade between Kazakhstan, Malaysia quadruples
Baku, Azerbaijan, March 20
By Fakhri Vakilov – Trend:
The volume of bilateral trade between Kazakhstan and Malaysia increased almost fourfold compared with 2017 and amounted to $478 million in 2018, Trend reports with reference to the Ministry of Foreign Affairs of Kazakhstan.
Exports from Kazakhstan reached $351.7 million, while imports from Malaysia reached $126.1 million.
Diplomatic relations between countries were established 27 years ago. In 2014, the countries reached an agreement on the promotion of bilateral relations to the level of "all-round partnership".
In 1996, Kazakhstan and Malaysia opened their embassies in Kuala Lumpur and Almaty, respectively.
The president of Kazakhstan visited Malaysia three times (in 1996, 2006, 2012), and Malaysian top management visited Kazakhstan four times (in 1996, 2003, 2011 and 2014).
The countries cooperate in the fields of oil and gas industry and oil and gas services, Islamic finance, housing and infrastructure construction, agriculture, halal industry, e-commerce, tourism and cyber security.
Kazakhstan, alongside with Malaysian companies and investors, implement long-term projects in the oil and gas, agricultural and construction sectors for a total amount of over $1 billion. About 1,000 Kazakhstan students study in Malaysian universities.
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