Opportunities for Singapore firms to work with Kazakhstan businesses in technology, innovation

4 weeks ago 45

Updated

May 23, 2024, 08:04 PM

Published

May 23, 2024, 07:52 PM

SINGAPORE – Firms from Singapore and Kazakhstan have been urged to work together in areas like technology and innovation, renewable energy and biotech.

The message was relayed by both countries at a joint business forum here on May 23 at which Deputy Prime Minister Heng Swee Keat noted: “Over the decades, we have established wide-ranging collaborations in areas such as connectivity, education and governance, trade and investment, and human resource development. 

“Both countries recognise that an open and rules-based international economic system is an important driver of growth and development to uplift our peoples and enhance their lives and livelihoods.”

Kazakhstan is Singapore’s biggest trading partner among Central Asian states, with goods trade between the two nations growing by nearly 50 per cent to more than $600 million in 2023.

“We should build on this strong base and grow these linkages further,” DPM Heng said.

“Our businesses have an important role to play in this. By fostering deeper collaborations, businesses can help to grow the economic pie on both sides and strengthen people-to-people connections.”

Kazakhstan President Kassym-Jomart Tokayev added that both countries have been natural partners politically and economically, which presents substantial opportunities for expanding cooperation.

He also highlighted some promising areas of cooperation, such as the urban development sector. He noted that there are plans for a new integrated economic hub in the ...

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