New Business Opportunities With Kazakhtan

WEDNESDAY, MAY 3, 2017, KUALA LUMPUR: Malaysia External Trade Development Corporation (MATRADE) with the cooperation of The Embassy of the Republic of Kazakhstan to Malaysia is organising a Business Forum with the theme New Business Opportunities in Kazakhstan. The delegation led by His Excellency Dalenov Ruslan Yerbolatovich, The First Vice-Minister of National Economy of Kazakhstan and consists of senior officials from various ministries from Kazakhstan namely Ministry of National Economy, Ministry of Energy, Ministry of Investments and Development, Ministry of Foreign Affairs and also senior officials from other Kazakhstani government agencies.

The Forum is aimed to promote “Trade and Investment Opportunities with Kazakhstan” to officials from Malaysian government and business community by Kazakhstani representatives. The ultimate goal is to promote closer economic cooperation and comprehensive partnership between the two countries.

Trade between the two countries has the potential to grow to include a wider range of goods and services. In 2016, Kazakhstan was Malaysia’s 4th largest trading partner, 4th largest export destination and 5th largest import sources among the 12 Commonwealth of Independent States [CIS] countries.

Total trade with Kazakhstan in 2016 rose by 36.1% to RM203.58 million compared to 2015. Malaysia’s export to Kazakhstan increased by 30.4% to RM180.81 million, while imports was recorded at RM22.77 million last year. For the period January–February 2017, Malaysia’s total trade with Kazakhstan amounted to RM48.07 million [US$10.80 million], an increase of 108.0% from the corresponding period in 2016. Export was valued at RM43.57 million [US$9.79 million], while import was at RM4.49 million or US$1.01 million.

There is obviously scope to expand more trade in terms of the range of goods and services to include more high value and high-tech products and services.

For more details on MATRADE and its programmes, please visit www.matrade.gov.my

Updated by Strategic Communications Unit

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