business

Malaysia and the Republic of Kazakhstan launch MKBC

ALMATY, Kazakhstan: Malaysia and the Republic of Kazakhstan are set to strengthen bilateral relationship following the official launch of Malaysia-Kazakhstan Business Council (MKBC).

MKBC co-chairman (Kazakhstan) Datuk Berikkazy Seksenbayev said both countries are looking forward to see higher trade and investment activities from this year onwards.

"The MKBC is important for Kazakhstan as we look forward for Malaysian companies to invest in the country.

"The promising sectors for investment include agriculture, oil and gas, green energy as well as water,” he told NST Business on the sidelines of the MKBC launch, here yesterday.

Berikkazy also said Kazakhstan plans to export more products to Malaysia as the country identifies trading as one of the important components of its economy.

He said some of the export products include meat, honey and mineral resources.

The MKBC, which currently has six members, is established as a platform to encourage higher economic and investment cooperation as well as expanding bilateral trade between Malaysia and Kazakhstan.

Six memorandum of understanding (MOUs) were signed at the launch.

These include MKBC and Kazakh Invest, MKBC and Chamber of International Commerce of Kazakhstan, MATTA and Kazakh Tourism, Accobiotech Sdn Bhd and Nazarbayev University, Amanie Advisors Sdn Bhd, CSQ Law and Astana International Financial Centre as well as Reach Energy Bhd and Gas Processing Company LLP.

MKBC co-chairman (Malaysia) Datuk Loo Took Gee is confident there will be more trade and investment activities between Malaysia and Kazakhstan following the launch of the council.

“I believe Kazakhstan will be able to increase its trade volume by having closer collaboration with Malaysian companies while we (Malaysia) can increase trade particularly in the export of electric and electronic goods to Kazakhstan,” he said.

Loo added that Malaysian companies are also interested to cooperate with Kazakhstan to develop certain industries in the county such as green energy and Halal.

Meanwhile, the Ambassador of Kazakhstan to Malaysia Daniyar Sarekenov said Kazakhstan has many opportunities to learn from Malaysia on the latter’s experience in diversifying its economy as well as becoming more market and export oriented.

Malaysian Ambassador to Kazakhstan Syed Mohamad Bakri Syed Abd Rahman said Malaysian companies could contribute further to the Kazakhstan economy in terms of gross domestic product (GDP) and jobs creation.

“I urge the participants of MKBC to utilise this platform to explore opportunities for more bilateral trade cooperation and investments.

"I’m confident that with continued trade missions conducted by both sides we will be able to have stronger network and more trade as well as investment opportunities,” he said.

Most Popular
Related Article
Says Stories