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Malaysia-Kazakhstan bilateral trade continues to grow

ASTANA: MALAYSIA looks forward to increase increasing trade with Kazakhstan, its second-largest trading partner in the Commonwealth of Independent States (CIS). region, the Republic of Kazakhstan.

Newly-appointed Malaysian ambassador to Kazakhstan, Syed Mohamad Bakri Syed Abd Rahman, 48, said trade volume between Malaysia and Kazakhstan is relatively small but has been increasing every year.

He said the bilateral trade volume last year was US$45 million (RM192 million), up from about US$30 million in 2015.

“While I am here, I hope that the trade volume and investments made by Malaysian companies in Kazakhstan will increase, especially with the upcoming Astana Expo 2017which will be the impetus for the two countries to develop a stronger trade relationship,” Syed Mohamad Bakri told NST Business, in an interview here, last week.

Malaysia and Kazakhstan have shared strong bilateral ties since 1992. The Central Asian country gained its independence from then former Soviet Union in December 1991.

The embassy works with the Malaysia External Trade Development Corporation (Matrade) to facilitate more trade between Malaysia and Kazakhstan, and with Tourism Malaysia to promote Malaysia as the preferred holiday destination for Kazakh tourists.

Matrade and Tourism Malaysia share the same office in Almaty, while the Malaysian Embassy is located here.in Astana.

Astana is the capital of Kazakhstan while Almaty is the former capital, which currently has about 18 million population. The land distance between the two cities is about 973km.

Meanwhile, Syed Mohamad Bakri said opportunities were aplenty in Kazakhstan for Malaysian companies and investors, particularly in the infrastructure sector as well as oil and gas, education, Islamic banking, halal and aerospace industries.

The 48-year-old ambassador He believes that there is a huge opportunity for Malaysian companies to develop a long-distance transportation network in Kazakhstan.

“The road between linking cities in Kazakhstan is not that well-developed yet. I suppose there should be a good road or highway, infrastructure at least between two big cities in Kazakhstan, for example, from Astana to Almaty. That is one area that Malaysian companies could look at,” said Syed Mohamad Bakri, who has been a diplomat for over two decades.

Astana is the capital of Kazakhstan while Almaty was the former capital, which currently has about 18 million population. The land distance between the two cities is about 973km.

The ambassador He also said Malaysia also has the opportunity to do could form joint venture business with local Kazakh companies to make products that could be for export to Eurasian Economic Union (EEU) countries at a very low tariff.

The EEU binds together countries in Central Asia and Russia, with a combined population of some 183 million and gross domestic product (GDP) of more than US$4 trillion.

Syed Mohamad Bakri said Malaysia could also import meat from Kazakhstan since the country was known to produce high-quality meat.

Syed Mohamad Bakri said However, the challenge in doing business in Kazakhstan was the language barrier, he said, as the country’s official language was Russian.

“My advice to them (businessmen) is try to learn a bit of Russian before coming here. That will be helpful. If it’s difficult for them to learn the language, then make sure they bring along translators.” he added.

On the upcoming Astana Expo 2017, Syed Mohamad Bakri said more than 60 participating Malaysian companies ill be showcasing would showcase their latest products and technologies in the sphere of renewable energy, green technology as well as education and tourism.

Themed “Future Energy”, the expo will starts on June 10 Saturday and ends on September 10. During the three-month event, Malaysia will hold several events such as organise a Hari Raya celebration at Rumah Malaysia, the official residence of the ambassador, as well as and National Day at the newly opened The Ritz Carlton Hotel, here.

“The National Day event will also commemorate the 25th anniversary of diplomatic relations between Malaysia and Kazakhstan,” he added Syed Mohamad Bakri said.

The former consular-general for Malaysia in New York also said He is optimistic about the future economy of Kazakhstan as it continues to develop to be as one of the strongest economies in Central Asia.

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