CA-NEWS (KZ) - Trade exchange between the UAE and Kazakhstan is projected to rise to $300 million this year from $197 million last year, stated Kazakhstan Ambassador to the UAE Askar Mussinov.

Mussinov said that bilateral relations are bracing to scale new heights of progress supported by the firm determination of the leadership in the two friendly states.

"The bonds between the UAE and Kazakhstan will see more progress in areas of economy and trade as the two countries will contribute to tap the available huge investment opportunities," stated the Ambassador while addressing an iftar banquet which he has hosted for the media on Friday night on the occasion of Kazakh Constitution Day.

The Ambassador stressed the significance of the day in the history of Kazakhstan an delaborated on Kazakhstan's 2030 strategic plan for sustainable economic development.

"Despite the global economic crisis that hit the world over the last two years, Kazakhstan has managed to achieve positive economic growth, attracting more than $100 billion in foreign investment," stated Ambassador.
Kazakhstan is expected to boost its oil output to 2.5 mbpd from just 1.3 mbpd, added Ambassador.