M'sia-Kazakhstan agree on 11 areas of cooperation
Published on: Friday, May 05, 2017

Kuala Lumpur: Malaysia and Kazakhstan have agreed on 11 areas of cooperation to enhance bilateral ties which include, among others, Information and Communication Technology, Islamic Banking and Financial Services, tourism and higher education.This was agreed during the Third Joint Trade Committee (JTC) Meeting between both countries held here today, co-chaired by Second Minister of International Trade and Industry Datuk Seri Ong Ka Chuan and Kazakhstan's First Vice-Minister of National Economy Ruslan Dalenov.

During the meeting, both ministers exchanged their views on bilateral trade and investment performance, regional economic developments and ways to forge better cooperation, said Miti in a statement Thursday.

They also discussed ways to provide opportunities for greater interaction between government authorities and the business communities of both countries.

The Malaysia-Kazakhstan JTC is a platform to strengthen trade and investment ties between Malaysia and Kazakhstan.

Kazakhstan is Malaysia's fourth largest trading partner among the Commonwealth of Independent States (CIS) countries. In 2016, total trade with Kazakhstan rose 36.1 per cent to reach RM203.58 million (US$49.22 million).

Malaysia's largest export item to Kazakhstan is coffee-based preparations while two biggest imports from Kazakhstan were zinc and television components.

"There is also a wide range of business opportunities between the two countries, especially in the manufacturing sector which included, among others, food products, production of electrical and electronic components and automotive spare parts," said Miti. – Bernama


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