ASTANA, Kazakhstan, November 28. Kazakh companies signed export contracts in Saudi Arabia for $18.2 million, Trend reports.
The signing of documents took place following the business forum of Kazakh entrepreneurs to Riyadh.
As Vice Minister of Trade and Integration of Kazakhstan Kairat Torebayev said during the business forum, companies of the country in the medium term are ready to additionally supply over 75 types of goods to Saudi Arabia worth about $500 million.
"Manufacturers in the metallurgical and food industries have great export potential. Service providers, especially in the IT sector, express high interest in cooperation with your companies," he said.
According to him, some Kazakh commodity producers are exploring the issue of opening representative offices in Saudi Arabia for further development of trade.
As part of the trade and economic mission, Kazakhstan was represented by 25 companies producing meat and meat products, honey, flour and sunflower oil, construction materials, mining and metals industry products, as well as suppliers of IT and other services.
In recent years, mutual trade between Kazakhstan and Saudi Arabia has been growing rapidly.
Trade turnover from January through September 2023 reached $13.4 billion. Exports of Kazakh products have already exceeded last year's volumes and amounted to $7.2 billion, an increase of 66.5 percent.
Kazakhstan supplies Saudi Arabia mainly with products from the mechanical engineering and metallurgical industries. Since last year, Kazakh companies began exporting chilled lamb to the Saudi market.