Kazakhstan and Saudi Arabia signed more than 10 agreements worth over 60 billion tenge ($181.55 million) within the official visit of Kazakh President Nursultan Nazarbayev to Saudi Arabia on October 24- 25, the presidential press-service reported.
At the briefing on the results of the visit Nazarbayev announced that the agreements had been signed in the energy sector, mining industry, agriculture and trade. The president also noted that as much as 17 Saudi Arabian enterprises were operating in Kazakhstan.
Moreover, Nazarbayev said that Kazakhstan and Saudi Arabia had agreed to create a bilateral intergovernmental commission and working groups in different economic spheres in order to develop fruitful cooperation in future. Moreover the parties agreed to establish a joint investment fund to finance joint projects in Kazakhstan.
Nazarbayev also invited Saudi companies to invest in innovative projects in Kazakhstan. Within the visit to Saudi Arabia a current policy in oil and gas sphere was discussed. (Trend/Business World Magazine)
