( Kazakhstan Today ) - During the first session of Kazakhstani-Egypt Business Council in Cairo with the participation of Nursultan Nazarbayev the bilateral agreement on trade was signed, reported Kazakh President press-service.
"From Kazakhstani side the agreement was signed by Galym Orazbakov, the Minister of Industry and Trade. Egypt side was presented by Rashid Mukhammed Rashid the Minister of Trade and Industry", - stated in the note.
Before the Business Council meeting Kazakh President Nursultan Nazarbayev and Egypt President Hosni Mubarak held negotiations in narrow and broadened staff. Kazakh President underlined the positive dynamic of bilateral trade-economic relations development.
"The first lot of Kazakh grain is already delivered. Its import to Egypt promises to rise up to 1 million ton a year. Because of this already in the present year commodity turnover between two countries will rise from $90 million to $150 million. Henceforth we will actively develop grain export from Kazakhstan", - said Nursultan Nazarbayev. The head of Kazakhstan reminded that the grain terminal in Baku is already built; similar will be build up in Georgia, and proposed to construct similar terminal and flour processing factory in one of Egypt Mediterranean ports.
Nazarbayev stressed that Kazakh investors are ready to invest in Egypt economy development and in their turn Kazakhstani side welcomes the arrival of Egyptian business to our country. "In particular, we are ready to invest in tourist objects construction in Sharm al Sheikh. There are huge potential for bilateral cooperation in creation and development of cotton cluster in Southern Kazakhstan. We welcome the arrival of Egyptian business in development of cotton-spinning industry in Kazakhstan. Great perspectives are opening in front of our partnership in pharmaceutical industry in Kazakhstan", - noticed Nazarbayev.
He also proposed to develop a "road map" on bilateral cooperation development. "The important sphere of cooperation could become high technologies. We are interested very much in Egypt experience in "Smart Village" project creation", - said Kazakh President.
Besides, the question on air communication between Cairo and Almaty/Astana was discussed. Kazakh President offered to hold Egypt Days in Kazakhstan in 2008, especially, to open an exhibition in Egypt National Museum in Astana, and develop bilaterally the cooperation of both capitals.
Nazarbayev fully supported and agreed with active peacekeeping activity of President Mubarak and offered Egypt to participate in the Conference on Interaction and Confidence Building Measures in Asia (CICA).
From his side Egypt President underlined that he will give concrete orders to Egyptian Ministers on agreements development aimed to realize the proposals stated by Kazakhstani delegation.
The session of Kazakhstani-Egypt Business Council took place on Monday. The same day Kazakh President met Lebanese entrepreneurs group. During the meeting questions of business circles partnership activation possibility of both countries were discussed.
"The first day of visit finished with official reception dedicated to 15 years anniversary of diplomatic relations establishment between Kazakhstan and Egypt", - noted in press-service.