Kazakhstan seeks more tie-ups with Malaysia

07-Dec-2017 Intellasia | NST | 6:00 AM Print This Post

The Republic of Kazakhstan seeks to attract more Malaysian companies to cooperate on high-tech infrastructural and construction projects in the Central Asian country.

Currently, the Embassy of the Republic of Kazakhstan in Malaysia is actively assisting major logistics and export companies in Malaysia to develop a trade route in Kazakhstan through the Lianyungang Port in China.

Ambassador Daniyar Sarekenov said there is a huge opportunity for Kazakhstan to develop its transit and transport hub through the port, which is located in the direction of Western Europe and Western China.

“In the future, our country can become a regional production base and a logistics hub for goods and services on the way to the markets of the Eurasian Economic Union (EAEU), Central Asia and Europe.

“This would contribute to Kazakhstan’s integration into international transport and communication flows as well as the expansion of cooperation with business circles of foreign countries,” Sarekenov told NST Business in an interview recently.

In this regard, he said the Chinese initiative of One Belt, One Road will facilitate the active development of transit flows from the Southeast Asia countries to Europe and Central Asia via the Lianyungang Port.

The port will also have a major impact on the formation of the Trans-Eurasia transit system as well as the Kazakhstan-Turkmenistan-Iran railway corridor.

Sarekenov, who has been the ambassador in Malaysia since September 2013, also said Kazakhstan and Malaysia has agreed to establish working groups on cooperation in various industries such as Halal, Islamic financing, tourism, renewable energy, oil and gas as well as investment cooperation.

The establishment of the working group was conducted on May 4, this year at the third Kazakhstan-Malaysia Joint Trade and Economic Committee (JTEC) meeting in Kuala Lumpur.

JTEC and the Malaysia-Kazakhstan Business Council in Malaysia is one of the efficient mechanisms of bilateral cooperation between Kazakhstan and Malaysia.

“There are efficient platforms to discuss in a case-by-case and systemic manner on all the issues related to bilateral trade, economic and investment cooperation. It also helps to keep close contacts with different business entities of Malaysia,” he added.

To-date, Malaysian companies and investors in Kazakhstan have implemented projects in the field of oil and gas, agriculture, engineering and construction in Kazakhstan worth a total of $1 billion.

Sarekenov said oil and gas industry is the most promising avenues for collaboration between Malaysia and Kazakhstan, with projects in upstream and downstream oil and gas development projects and servicing.

Islamic banking also presents an opportunity for collaboration between the two countries as Kazakhstan is eager to become a regional Islamic banking powerhouse in Central Asia and the Commonwealth of Independent States (CIS) by learning from Malaysia, the major player in the industry.

“Taking in account Malaysia’s reputation as the largest international centre for Islamic finance, we are interested to attract Malaysian expertise and capacity in developing the Islamic banking system in Kazakhstan,” Sarekenov said.

He also said there is a good potential for bilateral cooperation in the Halal food industry as Kazakhstan plans to turn into a Halal hub for the entire Central Asian region.

“For the development of Halal industry in our country, we have close cooperation with Halal Development Corporation (HDC) and we expect their visit to Kazakhstan early next year (2018), Sarekenov said, adding that Kazakhstan have also established a close cooperation with the Malaysian Green Technology Corporation (GreenTech) to develop the renewable energy sector in the country.

The current Malaysian companies that have established a presence in Kazakhstan include Markmore Energy Labuan Limited, Kenmakmur Holding Sdn Bhd, Reach Energy Bhd, Melewar Industrial Group Bhd, Hadid Engineering (M) Sdn Bhd and Alladin Group, to name a few.



Category: Malaysia

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