Kazakhstan and Saudi Arabia signed export contracts worth $18.2 million
“With the support of the Kingdom, projects worth $120 million have already been introduced in our country. One of them was the construction of a large wind power plant with a capacity of 1 GW in the Zhetisu region. We are also open to discuss the implementation of new export-oriented projects in agriculture, pharmaceuticals, metallurgy and other areas,” said Kairat Torebayev at a business forum in Riyadh.
The department noted an increase in trade between Kazakhstan and Saudi Arabia. Trade turnover for 9 months of 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%. Since last year, Kazakh companies began exporting chilled lamb to the Saudi market. In total, the register of KSA importers includes 34 domestic manufacturers, with another 23 enterprises awaiting inclusion.“In the medium term, Kazakh companies are ready to additionally supply over 75 types of goods worth about $500 million to Saudi Arabia. Manufacturers in the metallurgical and food industries have great export potential,” said Kairat Torebaev.
According to him, some Kazakh commodity producers are exploring the issue of opening representative offices in Saudi Arabia for the further development of trade. Therefore, Kazakhstan is interested in the accelerated inclusion of enterprises in the register of importers of Saudi Arabia, holding trade and economic missions, and exhibitions to increase recognition of products of Kazakh brands.The press service of the department reported that within the framework of the trade and economic mission, Kazakhstan is represented by 25 companies producing meat and meat products, honey, flour and sunflower oil, building materials, mining and metals industry products, as well as suppliers of IT and other services. As a result of business negotiations in Riyadh, Kazakh businessmen signed export contracts worth $18.2 million.
