KUALA LUMPUR: According to statistics from Malaysia External Trade Development Corp, the other sectors, such as food and mineral fuels, recorded tremendous export growth of RM110 million and RM66 million respectively.
Ambassador of the Republic of Kazakhstan to Malaysia, Daniyar Sarekenov, said the strong trade relations reflected positively on the economies of both nations.
“According to the National Bank of the Republic of Kazakhstan, bilateral trade amounted to over US$84 million (RM328 million) in 2016.
To boost bilateral ties between the two countries, a Kazakhstan-Malaysia Joint Trade and Economic Committee and business council were set up to oversee economic and investment cooperation,” he said.
As a result, the parties agreed to establish working groups on cooperation in halal industry, Islamic financing, tourism, renewable energy, oil and gas, and investment cooperation, he said.
Sarekenov said over the past years, Malaysia and Kazakhstan had signed various memoranda of understanding, including 11 worth US$1.17 billion.
