Photo credit: gulf-times.com
Boosting Economic Ties: Dubai and Kazakhstan
Recently, Dubai Chambers welcomed a prominent delegation of Kazakhstani businesses to its headquarters. The delegation, led by Nursultan Shokanov, the Chairman of the Regional Council of the Chamber of Entrepreneurs of Almaty, aimed to explore and expand economic relations between the two regions.
During the visit, the delegation received insights into Dubai’s competitive landscape, encompassing vast investment opportunities that promise to enhance bilateral economic and trade relations. Notably, the meeting included executives from 20 diverse Kazakh companies spanning sectors such as real estate, construction, agriculture, information technology, and education.
UAE-based companies also participated in the discussions, contributing to a collaborative environment geared toward fostering trade and joint investments. This multifaceted approach aimed to bridge connections between Kazakh and Emirati businesses, paving the way for collaborative growth.
Infrastructure and Strategic Advantages
Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, emphasized that Dubai stands out for its diverse range of opportunities across multiple key sectors. He remarked on how Dubai acts as a growth platform not just for Kazakh companies, but for businesses worldwide. The emirate boasts a favourable investment climate, which supports companies aiming for regional and global expansion.
Lootah further affirmed Dubai Chambers’ commitment to uniting the business communities of Dubai and Kazakhstan, fostering an environment of mutual development. His remarks underscored a dedication to helping Kazakh entrepreneurs navigate Dubai’s dynamic business landscape.
Remarkable Growth in Trade
The meeting comes at a significant time when trade relations between Dubai and Kazakhstan are flourishing. Recent data shows that non-oil bilateral trade reached an impressive Dhs20 billion in 2024, marking a year-over-year growth of 43%. This surge highlights Dubai’s increasing appeal to Kazakh businesses looking for expansion opportunities.
A further testament to this burgeoning relationship is the addition of 247 new Kazakh companies that joined the Dubai Chamber of Commerce in 2024. This leap brought the total Kazakh membership to 691 by the end of the year, representing a remarkable increase of 34.4% compared to the previous year.
Direct Support through Representation
To solidify ongoing economic collaboration, Dubai International Chamber opened a new international representative office in Almaty in 2024. This office is essential for supporting the Kazakh business community and attracting investors from Kazakhstan as well as Central Asia to Dubai.
The intent is clear: to create pathways for Kazakh entrepreneurs and businesses to navigate and thrive in the robust Emirati market, further integrating both economies and maximizing mutual benefits.
Broader International Engagements
In a related context, Dubai Chambers also hosted a high-level delegation from North Macedonia, led by Prime Minister Dr. Hristijan Mickoski. This gathering showcased Dubai’s role as a central hub for fostering international economic relations, where the two sides discussed strategies to enhance bilateral economic ties and promote collaborative trade initiatives.
This meeting was attended by key figures, including Sultan bin Saeed Al Mansoori, Chairman of Dubai Chambers, and Lootah. Al Mansoori reflected on the growth potential that such partnerships can unlock, reaffirming Dubai’s commitment to supporting businesses from various countries looking to make their mark on the global stage.
As Dubai solidifies its position as a nexus for international trade, its collaborative efforts—with Kazakhstan and beyond—signal a forward-looking strategy aimed squarely at fostering prosperity through interconnected economic relationships.
