UAE investments in Kazakhstan exceed $545 million

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Tuesday 01 Mar 2016 - 18:37 Makkah mean time-21-5-1437 Bishkek, (IINA) - Ambassador of Kazakhstan to the UAE Kairat Lama Sharif said that the latter’s investments in Kazakhstan have crossed the $545 million milestone, adding that trade exchange recorded $135 million increase by the end of 2015, Aki-Press reported. Lama Sharif unveiled that Kazakhstan is willing to extend the validity of the UAE visitors’ stay to 30 days instead of the regular 15-day permit. This is in addition to the fact that UAE nationals are exempted from visa to Kazakhstan since July 2014. The ambassador made the announcement on the sidelines of a delegation visit to Dawood Al-Shezawi, founder and president of Annual Investment Meeting (AIM), one of the world’s leading foreign direct investment focused platform. AIM Higher Organizing Committee, in collaboration with the Embassy of Kazakhstan to the UAE, presented details about 14 investment activities that will be added to the sixth edition of AIM to around 70 of Kazakhstani businessmen and investors, The conference is scheduled on April 11 and will continue for three days at Dubai World Trade Centre, according to Gulf Digital News. Lama Sharif assured his delegation’s eagerness to facilitate Kazakhstani nationals attending AIM annually, pointing out that the Kazakhstani participation in AIM will be of broader scale. He also revealed that the city of Almaty, the largest city and financial center in Kazakhstan, is seeking to establish bilateral relations with Dubai Municipality in order to help Kazakhstani businessmen develop economic ties with Emirati investors. Lama Sharif said that Kazakhstan sees great importance in UAE presence in Expo Astana 2017, which will be held in the capital Astana from June 10 to September 10, 2017. More than 15,000 attendees from over 140 countries will take part in the 6th edition of AIM. According to Al-Shezawi, participating in AIM will enhance opportunities for investors and companies from Kazakhstan to strengthen their presence in the UAE, the region and the world, and will enable Kazakh companies to establish new partnerships and expand its business in global markets through Dubai. AG/IINA