Qatar and Kazakhstan discussed economic cooperation between the two countries, including energy and signed a number of commercial agreements totaling almost USD 18 billion in investments.
The energy sector is the basis of cooperation between the two countries, Kazakhstan President Kassym-Jomart Tokayev said during a state visit to Qatar on February 14, adding that the Central Asian country is ready to provide ample opportunities for oil and gas exploration.
He invited Qatari energy companies to actively participate in geological exploration, petrochemicals, transportation, and oil and gas processing projects. “Today we expect to sign Term Sheets with Power International Holding for the construction of gas processing plants at the Kashagan field as well as gas pipelines for Beineu – Bozoi – Shymkent and Aktobe – Kostanay segments. This is a very promising endeavor. We hope that negotiations for the construction of another gas processing project at Kashagan will soon yield practical results,” he said.
Investment in renewables
Kazakhstan has big renewable energy potential, estimated at one trillion kilowatt-hours and international investors have committed to implement projects with a capacity of 43 gigawatts.
The Kazakh leader hailed the Qatari firm Nebras Power’s intentions to implement a 350 MW hydroelectric power plant and Pearl Overseas’ plans to construct a 1.1 GW combined-cycle plant in Kazakhstan.
He also invited Qatari companies to participate in the extraction and processing of critical raw materials such as cobalt, lithium and other raw materials necessary for the global economy.
At the same time, the Kazakh President emphasized that he has high hopes for partnership in the field of agriculture. Kazakhstan is the ninth largest country in the world by its territory, 70 percent of which is arable and its agricultural products are already exported to more than 80 countries. “We aim to triple the productivity of this sector and thereby double its exports. Kazakhstan can supply halal and organic agricultural products to the Qatari market. I am aware of Hassad Food’s interest in the construction of a deep grain and pea processing plant. We stand ready to support this initiative. We are also interested in developing the production of meat, fruit, vegetable, grain, flour and other products with further direct supply to Qatar,” he said.
Discussing the development of the Trans-Caspian International Transport Route (TITR), the so-called Middle Corridor, Tokayev argued that Qatari companies and financial institutions can derive significant benefits by exploring business and investment opportunities in this field.
During talks with Qatar’s Emir Sheikh Tamim bin Hamad Al Thani, Tokayev called on Qatar to make joint efforts to develop an intermodal transport network connecting the Gulf and Central Asia to stimulate economic activity in the region.
The digitalization sector is high on the agenda of both countries as they strive to become leading technology hubs. Kazakhstan is recognized as a top 30 country by the United Nations for adapting digital technologies.
In the last 3 years, IT-exports increased by 16 times to roughly $500 million. To boost its competitiveness, Kazakhstan is also constructing supercomputers and data centers. “Together with our neighbors, we also plan to build fiber-optic cables along the Caspian Sea and to extend connectivity with the Gulf countries. We very much welcome Power International Holding’s plans to become one of the key players in Kazakhstan’s telecommunication market,” the Kazakh leader said.
The Astana International Financial Centre (AIFC) has established strong business ties with the Qatar Central Bank, the Qatar Financial Center, and the Qatar Stock Exchange. Tokayev said creating a Kazakh-Qatari direct investment fund in the AIFC could be a platform for financing joint ventures.
Tokayev invited Qatar leaders and investors to attend the 2nd Astana International Forum on 13-14 June, which aims to address acute challenges, including climate change, food shortages, and energy security. Besides that, this year Kazakhstan and France will co-chair the first thematic One Water Summit on the sidelines of the UN General Assembly in New York. Astana also intends to host a Regional Climate Summit under UN auspices in 2026.