Monday, 14 October 2019, 18:50:26
Prime Minister of Kazakhstan Askar Mamin met with the Senior Minister and Coordinating Minister for National Security of the Republic of Singapore Teo Chee Hean, who is visiting Kazakhstan.
The parties discussed issues of developing investment and trade and economic cooperation, including the prospects for cooperation between the two countries in the EAEU – Singapore format after ratification of the free trade agreement signed between the Eurasian Economic Union and Singapore on Oct. 1, 2019, in Yerevan.
“The first President Nursultan Nazarbayev has always paid great attention to cooperation with Singapore and has personally been friends with Prime Minister Lee Kuan Yew, thanks to which relations between the two countries are developing successfully. Head of State Kassym-Jomart Tokayev, adhering to continuity in foreign policy, also pays great attention to the effective development of cooperation with Singapore,” Mamin said.
Kazakhstan is Singapore’s largest trade and economic partner in Central Asia, with bilateral trade turnover exceeding $520 million by the end of 2018. As of June 2019, Foreign direct investment from Singapore to the Kazakhstani economy almost tripled – from $28.5 million to $80.7 million.
The head of Government called on the Singapore side to actively expand its presence in the Astana International Financial Center, establish close ties between the business circles of the two countries and participate in investment projects to modernize the transport and housing infrastructure of Kazakhstan.
The prime minister emphasized that ensuring the growth of foreign direct investment and trade is one of the priority areas of the Government of Kazakhstan.
The head of Government invited representatives of Singapore to participate in the upcoming 12th Ministerial Conference of the World Trade Organization in June 2020 in Nur Sultan.