Kazakhstan, Astana, June 6 / Trend A.Maratov /
Malaysia's Petronas will participate in Kazakh oil and gas project in exchange for Kazakhstan's participation in Petronas projects in other parts of the world, Malaysian Prime Minister Najib Razak said during his first official visit to Astana today.
"I would like to thank the Kazakh President for his invitation made to Petronas to start intensive negotiations with the prospect of the company's involvement in the development of the oil and gas project in the country in exchange for other proposals", Razak said. "They will allow the Kazakh oil and gas sector to participate in Petronas projects in other parts of the world."
Petronas is the Malaysian national oil and gas company. It was founded in 1974. The corporation is vested with the entire oil and gas resources in Malaysia.
The Islamic financing was also one of the spheres where Kazakhstan and Malaysia agreed to cooperate.
"The Kazakh government shows great interest in Malaysia's experience in development of Islamic banking. Malaysia was ready to organize the trainings on Islamic financing for representatives of the Kazakh government", Razak told media after the talks with Kazakh President Nursultan Nazarbayev.
A number of bilateral documents were signed as a result of Prime Minister Razak's first visit to Astana today. Among them are a protocol of intentions between the Kazakh Ministry of Tourism and Sport and ALM Builders Sdn. Bhd Company and a tripartite agreement on construction of a livestock complex between Zhambyl region's Akimat, Smart Agro Karkara LLC and National feedlot corporation Sdn. Bhd.
"Malaysia is one of the most reliable partners of Kazakhstan in South-Eastern Asia and Muslim world", President Nazarbayev said. "Our nations are united through the way our states have been built and through economic development".
The President stressed that Kazakhstan used Malaysian experience of reforming economic and political systems.
"Kazakhstan is interested in participation of the Malaysian business in realization of the country's industrial programs," Nazarbayev said at the press-conference.
The increase in trade turnover between Malaysia and Kazakhstan was also discussed at the meeting between Nazarbayev and Razak. According to the President, trade turnover reached $100 million last year.