Officials: HM’s Kazakhstan visit marks milestone in bilateral ties

Muscat: Ministers and officials affirmed that His Majesty the Sultan's visit to the Republic of Kazakhstan marks an important milestone in the course of Oman-Kazakhstan relations, particularly as it witnessed the signing of 20 cooperation documents.

Foreign Minister affirmed in a statement to Oman News Agency that the strategic value of the Oman- Kazakhstan partnership lies in the complementarity of capabilities. Kazakhstan's economic standing in Central Asia, together with the Sultanate of Oman's maritime location, ports and logistical infrastructure, affords opportunities to expand market access and develop the movement of trade and investment.

Foreign Minister: The drive towards strengthening investment and financial frameworks, and developing joint financing instruments and investment protection, would provide a more firmly grounded and sustainable basis for projects between the two countries, and enhance investor confidence and their capacity to take long-term decisions.

President of Oman Investment Authority in a statement to Oman News Agency: The establishment of the joint investment fund and the agreements between the Authority's companies and their counterparts on the Kazakh side will enhance the building of strategic partnerships that achieve shared economic interests for both countries by broadening the horizons of cooperation in multiple promising sectors, particularly natural resources, manufacturing, food, healthcare, renewable energy, logistics services, tourism, mining and artificial intelligence.

Minister of Commerce, Industry and Investment Promotion in a statement to Oman News Agency: The Agreement on the Reciprocal Promotion and Protection of Investments represents an advanced strategic step that will contribute to increased flows of quality investments and the expansion of cooperation between the two business communities, and provides a clear legal and regulatory framework for encouraging and protecting the investments of investors from the two friendly countries.

Chairman of the Board of Directors of Oman Chamber of Commerce and Industry in a statement to Oman News Agency: The agreement establishing the Omani-Kazakh Joint Business Council represents a sustainable institutional framework for enhancing communication between the two business communities, raising awareness of available commercial and investment opportunities, and developing partnerships between companies in the two friendly countries.