Singapore is interested in cooperation with Kazakhstan in digital modernization of economies

Singapore is interested in cooperation with Kazakhstan in digital modernization  of economies. Chairperson of the foreign affairs committee of the Senate, the upper house of the Kazakh Parliament held negotiations with Singapore’s leadership, government, parliament and large companies. Senator Dariga Nazarbayeva met with Prime Minister Lee Hsien Loong. Particular attention was paid to discussing the topics of digital modernization of economies, ensuring cybersecurity, developing smart cities, participation of Singaporean financial institutions in activities of the Astana International Financial Center, as well as training the young generation of leaders in both countries. The parties also discussed the non-proliferation of nuclear weapons and interaction of the Association of Southeast Asian Nations with the Eurasian Economic Union.


- Considering that President of Kazakhstan Nursultan Nazarbayev is the initiator of the creation of the Eurasian Economic Union, the parties came to understanding about the expansion of the KAPTIC (Kazakhstan-Asia-Pacific Trade and Investment Chamber) and its transformation into an interregional structure, namely, the Eurasian-Pacific Chamber of Commerce and Investment, abbreviated as EURAPTIC. This will ensure that the level of interaction between entrepreneurs in the region will be much higher than under current conditions.

The Kazakh delegation demonstrated the use of new technologies in the country's economy. In addition, the parties held talks on attracting investments into Kazakhstan. The leaders of the largest engineering company in Asia offered to apply their experience in Kazakhstan.


 - I think other thing we can help is committing the whole transmission line. Right now we are conducting assistance in big cities. Singapore is a very good example.

Representatives of Kazakhstan and Singapore also discussed mutual trade. According to politicians and businessmen, Kazakhstan and Singapore have common goals. The economic growth and the development of human capital are prioritized.


 - We are quite far away geographically but I think we are both Asian countries we are both part of Asian region and we are both countries live by connectivity your is land connectivity and ours is ocean connectivity so  let’s use this opportunity to connect the connectivity and further Singaporean and Kazakh bilateral relations.

Following the meeting, the parties highlighted that cooperation between Kazakhstan and Singapore will expand bilateral relations. Foreign politicians also expressed their appreciation of Kazakhstan’s support in promoting the topic of creating a free trade zone between Singapore and the Eurasian Economic Union. They are confident that the formation of this zone will significantly boost trade, economic and investment cooperation between the two countries.