UAE and Kazakhstan ink cooperation documents on trade, energy

NUR-SULTAN, Kazakhstan – The United Arab Emirates and Kazakhstan on 27 January have signed several documents on cooperation within the framework of the official visit of the Kazakhstan’s President Kassym Jomart Tokayev to Abu Dhabi.
“Kassym-Zhomart Tokayev held talks with the Crown Prince of Abu Dhabi, Sheikh Mohammed bin Zayed Al Nahyan. Following the meeting, several documents were signed,” Akorda said.
These are the Memorandum of Understanding and Cooperation in the field of the petrochemical industry between the Ministry of Energy of Kazakhstan and the Ministry of Energy and Industry of the United Arab Emirates, the MoU between the Kazakhstan’s Trade and Integration and UAE’s Economy Ministry, the MoU between the Astana International Financial Center Committee for Regulation of Financial Services and the UAE Central Bank.
As part of his official visit to the United Arab Emirates, Tokayev met with the oil company Abu Dhabi National Oil Company (ADNOC) Director General Sultan Ahmed Al-Jaber.
ADNOC is a leading producer of oil and gas in the UAE and ranks fourth in the world. Its oil deposits are estimated at 100 billion barrels, and daily production reaches 2.4 million barrels of oil.
During the meeting, the interlocutors exchanged views on the situation on the world oil and gas markets, the production and export of which form the basis of the economy of Kazakhstan and the United Arab Emirates.
Tokayev emphasised that in Kazakhstan, s priority is given to the deep processing of hydrocarbons, and therefore the state provides the conditions for the implementation of projects in the field of petrochemicals.
“The petrochemical industry is strengthening in Kazakhstan. In the future, we intend to cooperate with your company in this direction,” Tokayev said.