According to the Ministry of Trade and Integration of the Republic of Kazakhstan, trade between Kazakhstan and the United Arab Emirates (UAE) has been actively developing, reaching a total of $632.6 million USD by the end of 2022. Of this figure, Kazakhstan’s exports amounted to $560 million USD, while imports from the UAE accounted for $72.3 million USD. An essential element of future trade agreements is the elimination of customs duties on a wide range of goods, ultimately aiming to boost bilateral trade volumes.
Currently, representatives from Kazakhstan and the United Arab Emirates are collaborating to enhance their trade relations. For instance, on March 6th, the first round of negotiations on establishing a free trade zone between the member states of the Eurasian Economic Union (EAEU) and the United Arab Emirates began in Dubai, UAE. Kazakhstan’s negotiating team comprises experts from the Ministries of Trade and Integration, Foreign Affairs, and Justice. The parties are discussing the main provisions of the future agreement, which will create conditions for duty-free and barrier-free trade between the parties. These provisions encompass trade in goods, dispute resolution, protective measures, technical, sanitary, and phytosanitary regulations, among others.
In the spirit of cooperation and expanding trade, “QazTrade,” a subsidiary of the Ministry of Trade and Integration, organized a delegation of 30 Kazakh entrepreneurs to Dubai for participation in the Trade and Economic Mission from October 15th to 17th. Kazakh businesses will engage in face-to-face meetings with potential buyers from the 15th to the 17th. Additionally, the main event will take place at the Rixos Premium Dubai hotel on the 16th. During the first half of the day, Vice-Minister of Trade Kayrat Torbayev and Mohammad Ali Rashed Lootah, President & CEO of Dubai Chambers, will address the participants. In the second half of the day, business discussions will transition to B2B negotiations, with a dedicated platform provided for these interactions.
Kazakhstan has a significant interest in the UAE market. The Kazakh delegation includes representatives from the food industry, such as juice producers, biscuit manufacturers, premium-class water producers, bread makers, ketchup and mayonnaise producers, and other food additives, as well as honey, seeds, and meat suppliers. In addition to the food industry, Kazakh businesses can offer high-quality doors, respiratory masks, diesel generators, steel pipes, and IT services to the UAE market.