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Wednesday 24 Feb 2016 - 13:46 Makkah mean time-15-5-1437
Kuala Lumpur, Malaysia (Image from Internet)
Kuala Lumpur (IINA) – Kazakhstan is determined to continue and strengthen its bilateral trade with Malaysia despite global economic challenges, The Malaysian Insider (MI) reported.
According to a spokesperson for Kazakh embassy in Malaysia, several areas of cooperation in both the diplomatic and economic fields have been explored between Kazakhstan and Malaysia since the start of their official relationship in 1992.
These include the agreements signed during the visit by Prime Minister Najib Razak to Kazakhstan in May 2014 for the construction of a methanol plant and a liquefied natural gas plant as well as farm development involving cattle breeding in the country.
"From January until October 2015, mutual trade between Kazakhstan and Malaysia stood at $76.6 million (RM320 million) with total exports to Kazakhstan worth $76.2 million and imports valued at $396,300", the spokesperson said. She noted that the bilateral trade was largely in Malaysia's favor, having registered exports of $122.7 million to Kazakhstan in 2013 and $105.2 million in 2014.
She stated that the main items imported by her country from Malaysia included electrical and electronic products, appliances and parts, palm oil, lubricants, rubber products, clothing and furniture. In turn, Kazakhstan exported ferrous metals, surveying and measuring equipment, tools and pipe-fittings to Malaysia.
With the similarity of having a majority of Muslims, Kazakhstan, which is the ninth largest country in the world, has conveyed its interest to emulate Malaysia's socio-economic development.
AB/IINA
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