ASTANA, Kazakhstan, May 17. Kazakhstan intends to increase trade turnover with Malaysia, said Prime Minister Olzhas Bektenov during an investment round table in Astana, Trend reports.
"Malaysia is one of the key trade and economic partners in Southeast Asia. Over the course of the year, bilateral trade turnover increased from $150 million to almost $245 million. The goal is to unlock the existing potential of economies and exceed the pre-pandemic level of mutual trade of $650 million," he said.
Olzhas Bektenov announced Kazakhstan’s intention to diversify exports to Malaysia and called on Malaysian businessmen to jointly explore new opportunities to strengthen partnerships in services, manufacturing, finance, education, subsoil use, agriculture, and construction.
"Today, there are 48 companies with Malaysian capital operating in Kazakhstan. 17 joint investment projects are being implemented for a total of over $410 million," he said.
In turn, Prime Minister of Malaysia Anwar Ibrahim noted the positive dynamics of interstate cooperation.
"In recent years, the growth of trade turnover between the countries has exceeded 30 percent. Malaysia intends to strengthen cooperation with Kazakhstan in the tourism, educational, and energy sectors, as well as in the supply of Kazakh halal products," he said.
Meanwhile, the volume of trade turnover between Kazakhstan and Malaysia amounted to $246.4 million in 2023. The structure of trade turnover is dominated by imports from Malaysia, which amounted to $213.4 million, while exports to Malaysia amounted to $33 million.