Kazakhstan, Malaysia agree to expand trade, economic cooperation

08:32, June 07, 2011      

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Kazakhstan and Malaysia agreed on Monday to expand trade and economic cooperation.

"Today we have outlined a new set of measures to expand economic and trade relations," said Kazakh President Nursultan Nazarbayev after talks with Malaysian Prime Minister Najib Nazak.

"Our trade is estimated at 100 million U.S. dollars after a 30 percent rise last year, but still it does not reflect our country' s potential," said the president.

The two sides agreed to revive the joint trade and economic committee and create a business council. Malaysian companies expressed an interest in joint projects in energy, mineral resources, petrochemicals, agriculture, construction and finance.

"We are interested in participation of Malaysian business in our 2020' industrial and innovation program," Nazarbayev said. " There are high prospects for cooperation in highly efficient oil refining, agriculture and halal industry."

The Malaysian prime minister said that bilateral cooperation between the two countries has a significant potential, particularly in trade and investment. "The 100-million U.S. dollars figure does not reflect the trade potential, which is possible to achieve. I hope that we can raise the turnover to a new level," Najib added.

Source: Xinhua
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