Trade exchange volume between Kuwait, Kazakhstan hits $400mln

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The Ambassador of the Republic of Kazakhstan to Kuwait Azamat Berdibay affirmed the strength and firmness of the diplomatic relations between Kuwait and Kazakhstan. In a press conference under the title “Economic Path of a Fair Kazakhstan” organized by the embassy, Wednesday, to shed light on the political, economic, and social reform programs and the speech of the President of the Republic of Kazakhstan Kassym-Jomart Tokayev to the Kazakh people, the ambassador stressed that the volume of trade exchange between the two countries reached $400 million during the current year. He revealed that the number of visitors to Kazakhstan from Kuwait exceeded 14,000 visitors, including travelers from countries in the region and Kuwaiti tourists, from the time Jazeera Airways launched a direct flight from Kuwait to Kazakhstan.

The ambassador indicated that his country has made significant progress in achieving gender equality and empowering the rights of women and girls, as a 30 percent quota for women and girls has been introduced. This will allow them to participate more actively and as equals in the political life of the country. He said, “The presidential term was limited to one term of seven years. The people of Kazakhstan supported this proposal, and so it will not change in the future.” Ambassador Berdibay said, “Despite the difficult international situation that negatively affected the global economy, Kazakhstan’s economy showed growth in 2022. The gross domestic product reached USD 22 billion.

A record volume of USD 28 billion in foreign direct investment was attracted in 2022. The volume of foreign trade reached USD 136 billion.” Regarding the future economic reforms, Ambassador Berdibay indicated that the Kazakh government has been assigned to expand the geological exploration area to two million and 200 thousand square kilometers by 2026. It will focus on the agricultural industrial complex due to its increasing importance in food security. It also aims to increase the share of products manufactured within its framework to 705 in the next three years. It will also establish the Defense Industrial Complex Development Fund to provide financial support to local companies.”

In his speech, the ambassador revealed the discussions that Kazakhstan has been conducting to establish a nuclear power plant in the coming years with a total capacity of 14 gigawatts, in parallel with developing education and science in the country and training qualified personnel to advance scientific research to become a basis for innovation and long-term economic growth. He highlighted the construction of 400 schools within the framework of the “Comfortable School Project” to raise the level of Kazakh national education.