Kazakhstan to host 7th World Islamic Economic Forum
Baku, April 7 (AZERTAC). Aggregate joint investment between the UAE and Kazakhstan crossed US$ 3 billion last year, the Deputy Prime Minister of Republic of Kazakhstan, and Minister of Industry and New Technologies, Mr. A.O. Issekeshev, disclosed here today.
He told a press conference he held to announce the details of the 7th World Islamic Economic Forum (WISF) to be held in Astana from June 7-9 that relations between the two friendly countries were getting stronger and deeper.
He expected trade exchange to see phenomenal growth after the completion of the Kazakhstan-Iran railway which will bring more wheat and livestock imports to the UAE market.
He acknowledged the vital role major UAE companies are playing in the development of his country. Aldar Properties is building an 88 storey tower at a total cost of US$ 1 billion while Mubadala Oil and Gas, a business unit within Mubadala Development Co. is developing one of the largest oil fields in the country.
”Kazakhstan will produce over 150 million tons of oil and gas a year,” he added.
He said the annual holding of World Islamic Economic Forum is a significantly important event for Islamic countries as well for other countries. For the Republic of Kazakhstan it obtains a particular meaning in light of its chairmanship at the Organization of Islamic Conference and also under activated implementation of the state program on forced industrial and innovation development of Kazakhstan for 2010-2014.
In this regard, he noted”it is necessary to point out that our country is the first one in the region of CIS where the global WIEF takes place.
This Forum should continue to be a strongest business platform for OIC member countries and it targets wide and representative discussions on economic and geopolitical advancement of Muslim countries, their role in world economy, perspectives of opening new markets, getting assistance on attracting funds of large investors into their economies.
During the Forum participants have excellent opportunities to discuss different and business-oriented issues of further effective cooperation, especially, taking into account that most of OIC member countries have significantly strengthened their economic capacity.
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