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Kazakhstan Kassym-Jomart Tokayev Singapore

Trade turnover between Kazakhstan and Singapore to reach billions soon - President Tokayev

ASTANA, Kazakhstan, May 23. The trade turnover between Kazakhstan and Singapore is soon expected to exceed $2 billion, the President of Kazakhstan Kassym-Jomart Tokayev said during negotiations with President of Singapore Tharman Shanmugaratnam, TurkicWorld reports via Akorda.

"Today, more than 140 Singaporean companies and joint ventures operate in our country, with the total volume of Singaporean investments in the Kazakh economy surpassing $1.7 billion. Despite the economic disruptions and difficulties caused by the pandemic, the volume of mutual trade is expected to soon exceed $2 billion," Tokayev said.

He referred to Singapore as a time-tested and reliable partner for Kazakhstan. During the meeting, the leaders of the two countries extensively discussed prospects for expanding contacts in trade, economics, investment, and cultural-humanitarian spheres.

In particular, Tokayev expressed Kazakhstan's interest in expanding partnership with Singapore in key sectors such as energy, processing of critical raw materials, infrastructure development, the digital economy, fintech, agrotechnology, logistics, and communication.

The presidents agreed to jointly promote mutually beneficial investment projects, including strengthening the legal framework of bilateral relations.

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