Kazakhstan and Oman move to deepen economic and investment ties
Kazakhstani President Kassym-Jomart Tokayev and Sultan and Prime Minister of Oman Haitham bin Tariq Al Said held extensive talks in Astana. The Kazakh leader described the visit as a historic event and a step toward a new era in relations between the two nations. To mark the deep respect and strong friendship between the two countries, Tokayev awarded the Omani monarch the Altyn Qyran (Order of the Golden Eagle), Kazakhstan’s highest state decoration.
«For me, as president of this country, and for my people, your visit is of immense significance. I wish to emphasize our deep respect for your wise state strategy, as well as for Oman’s rich heritage and development model. For us, your country is a time-tested and reliable partner,» the president stressed.
In turn, Haitham bin Tariq presented Tokayev with the Sultanate’s highest state decoration — the Royal Order of Al Said.
Focus on economy
The economy and major investment projects were central topics of the meeting. Kazakhstan and Oman are preparing a substantial package of agreements covering energy, logistics, agriculture, IT and pharmaceuticals. Both sides have high expectations for a joint investment fund, development of the Dunga oil field, Solidcore projects and tourism development.
«I’d like to emphasize that we are successfully implementing a number of projects, and all of them will be subject to my personal oversight and monitoring. I’m hopeful that we will achieve significant new results in our bilateral cooperation very soon,» Tokayev said.
Kazakhstan as a major gateway between Asia and Europe
According to the Sultan of Oman, Kazakhstan has high strategic value. He noted that, thanks to its geographical location, the country is a vital logistics hub connecting Asia and Europe. Oman, on the other hand, can offer access to the Gulf region, the Indian Ocean and Africa by sea. Haitham bin Tariq also suggested that by joining forces, the two countries can unlock new growth opportunities. At the end of the meeting, he invited Tokayev to visit the Sultanate.
New agreements
As part of the negotiations, Nurlan Zhakupov, chairman of the management board of Samruk-Kazyna, and Abdul Salam bin Mohammed Al-Murshidi, president of the Oman Investment Authority, exchanged documents on establishing the joint investment fund and the terms for implementing the major Blue City project in Oman.
Kazakhstan’s national company QazaqGaz and OQ Exploration and Production also signed an agreement. The two companies agreed to cooperate in the oil and gas sector.
Additionally, the two countries’ finance ministers signed a memorandum of cooperation to strengthen their partnership. At the same time, the Eurasian Development Bank (EDB) agreed on the terms of its presence in the Sultanate. Finally, the Atameken National Chamber of Entrepreneurs and the Oman Chamber of Commerce and Industry officially agreed to establish a joint Kazakhstan-Oman Business Council.
