Riyadh, Saudi Arabia, hosted a trade mission of Kazakh entrepreneurs who signed contracts worth $18 million, the World of NAN reports citing the Ministry of Trade.
Mutual trade between Kazakhstan and Saudi Arabia has been growing rapidly in recent years. Trade turnover for 9 months of 2023 reached $13.4 billion. Exports of Kazakh products have already exceeded last year's volumes and amounted to 7.2 billion dollars, increasing by 66.5%.
Kazakhstan has started exporting chilled mutton to the Saudi market since last year. A total of 34 domestic producers of meat and honey products are included in the KSA importers register, with another 23 companies awaiting inclusion.
"Kazakh companies in the mid-term perspective are ready to additionally supply to Saudi Arabia more than 75 types of goods worth about $500 million. Food industry producers have great export potential," said Vice Minister of Trade Kairat Torebayev.
Within the framework of the trade and economic mission Kazakhstan was represented by 25 companies producing meat and meat products, honey, flour and sunflower oil, construction materials, MMC products, as well as suppliers of IT and other services. Following business negotiations in Riyadh, Kazakh businessmen signed export contracts worth $18.2 million.