Prime Minister of the Republic of Kazakhstan Olzhas Bektenov held a meeting with Senior Minister of Singapore Lee Hsien Loong. The parties reviewed the implementation of agreements reached during negotiations between President Kassym-Jomart Tokayev and Senior Minister Lee Hsien Loong.

The meeting covered prospects for developing trade, economic, and investment cooperation, with a focus on interaction in digitalization and artificial intelligence implementation, as well as joint initiatives in education.

Participants highlighted the positive dynamics of the economic partnership. Last year, bilateral trade approached $1 billion, while in the first six months of this year, trade volume reached $777 million, representing a 2.5-fold increase compared to the same period last year. In 2025, gross foreign direct investment inflow from Singapore doubled to approximately $1.5 billion.

At the same time, the leaders outlined significant potential for further diversifying mutual trade, expanding investment cooperation, and launching new joint projects. Key promising areas for collaboration include agribusiness, transport and logistics, digitalization, and artificial intelligence.

"Digital transformation is a strategic priority for Kazakhstan. The current year has been declared the Year of Digitalization and Artificial Intelligence by the President. Our country ranks among the top ten globally in the UN Online Services Index. Today, Kazakhstan is entering a new stage of development aimed at building a fully digital economy over the next three years through the widespread adoption of artificial intelligence," Olzhas Bektenov stressed.

"Our governments enjoy warm relations and strive to build a partnership that enables business to implement even more joint projects. Investments in both economies are growing, and trade figures between our nations are increasing, creating a solid foundation for further growth. We see positive changes in Kazakhstan and opportunities for progress; our relations hold great potential for moving forward," Lee Hsien Loong emphasized.

Following the meeting, both sides reaffirmed their readiness to further strengthen trade and economic partnership and ensure the practical implementation of agreements reached.

The following documents were signed:

• Agreement between the Ministry of Water Resources and Irrigation and Singapore Cooperation Enterprise on the capacity building program "Leadership in Sustainable Urban Water Resources and Waste Management";
• Memorandum of Understanding and Cooperation in Multimodal Transport, Trade Facilitation, and Digitalization between Middle Corridor Multimodal Ltd and Singapore Cooperation Enterprise.

The agreements provide for knowledge exchange with Singapore, professional development for Kazakhstani specialists, and the adoption of modern approaches to managing water resources, transport, and trade ecosystems, including initiatives to unlock the full potential of the Middle Corridor.

#Olzhas Bektenov #International Cooperation #Investments #Trade and economic cooperation

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