Prospects for Investment Cooperation between Kazakhstan and UAE Discussed in Abu Dhabi
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Minister of Foreign Affairs of the Republic of Kazakhstan Yermek Kosherbayev, during his official visit to the United Arab Emirates, held a meeting with the UAE Minister of Industry and Advanced Technology, Chairman of Masdar and CEO of ADNOC, Sultan Ahmed Al Jaber, Ministry of Foreign Affairs of the Republic of Kazakhstan reports.
During the talks, the parties discussed the current state and future prospects of investment cooperation between Kazakhstan and the UAE, as well as ways to advance collaboration in the field of renewable energy.
The Kazakh Minister noted the steady positive dynamics of bilateral economic cooperation. In particular, following the results of 2025, the UAE ranked among the top five largest investors in Kazakhstan, with investment volumes reaching approximately 1.64 billion US dollars. Growth in mutual trade was also noted.
Special attention was given to the 1 GW wind power plant project in the Zhambyl region, implemented by Masdar. This project is one of the largest renewable energy initiatives in Central Asia and stands as a vivid example of strategic partnership between the two countries.
In addition, the parties discussed prospects for further expansion of the project, including increasing its capacity and introducing advanced energy storage solutions.
Minister Kosherbayev emphasized the importance of further developing cooperation in new areas, including green hydrogen projects, localization of production, and the development of value chains, expressing confidence that this visit would provide additional momentum to investment cooperation, including the implementation of joint projects.
Following the meeting, the parties reaffirmed their commitment to further strengthening the strategic partnership.
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Kazakhstan and Greece Shape a Portfolio of Joint Investment Projects
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As part of the working visit to the Hellenic Republic, Deputy Minister of Foreign Affairs of the Republic of Kazakhstan Alibek Kuantyrov held a series of meetings with representatives of government authorities and business circles of the country. Following the negotiations, priority areas were identified for launching new investment projects and further expanding bilateral trade and economic cooperation, Ministry of Foreign Affairs of the Republic of Kazakhstan reports.
During a meeting with Deputy Minister of Foreign Affairs of Greece Harris Theocharis, the parties discussed preparations for the upcoming session of the Kazakhstan-Greek Intergovernmental Commission on Economic and Technological Cooperation, as well as current issues on the bilateral agenda.
Kazakhstan occupies an important place among Greece’s key partners, particularly in the energy sector. At the same time, we see significant potential for expanding cooperation in areas such as agriculture, logistics, and several other industries," the Greek diplomat noted.
In turn, Kuantyrov emphasized Kazakhstan’s readiness to deepen cooperation and move towards the practical implementation of joint initiatives. "We see substantial potential for launching joint projects in industry, energy, and infrastructure. It is important to focus on the implementation of concrete initiatives capable of ensuring mutual benefit and sustainable economic impact," stated the Deputy Minister of Foreign Affairs of Kazakhstan.
Particular attention was paid to financial, economic, and institutional cooperation. In this regard, during a meeting with the Governor of the Independent Authority for Public Revenue of Greece Georgios Pitsilis, the parties discussed improving tax administration, the digitalization of public services, as well as prospects for concluding an agreement on the avoidance of double taxation.
As part of the talks with the President of the Black Sea Trade and Development Bank Serhat Köksal and the Deputy CEO of "Growthfund" (the Hellenic Corporation of Assets and Participations, Greece’s sovereign wealth fund) Panagiotis Stampoulidis, opportunities were explored to establish practical investment cooperation, including participation in infrastructure and financial projects in Kazakhstan.
During meetings with representatives of the Greek business community, the Deputy Minister also held discussions with the leadership of companies "METLEN Energy & Metals", "Desserta Hellas", "CCC" and others. Specific financing mechanisms and prospects for implementing joint projects in metallurgy, energy, petrochemicals, the agro-industrial sector, and the development of industrial infrastructure were discussed.
Following the visit, the parties reaffirmed their mutual interest in intensifying investment cooperation, expanding trade and economic ties, and developing direct contacts between the business communities of Kazakhstan and Greece.
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National Bank Keeps the Base Rate at 18%
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The Monetary Policy Committee of the National Bank of Kazakhstan has decided to set the base rate at 18.0% with a corridor of +/- 1 percentage point, nationalbank.kz reports.
Annual inflation in March 2026 slowed to 11.0% (11.7% in February): food inflation stood at 11.7% (12.7%), non-food at 11.3% (11.6%), and services at 10.0% (10.8%).
The slowdown in inflation was facilitated by moderately tight monetary conditions, positive exchange rate dynamics, and stabilization of consumer demand, partly driven by a decline in consumer lending growth, as well as the moratorium on utility and fuel price increases, and other anti-inflationary measures of the Government.
Monthly inflation in March decreased to 0.6% after 1.1% in February. Core and seasonally adjusted inflation have also slowed. At the same time, their current levels remain above those consistent with achieving the 5% target, which indicates persistent inflationary pressure in the economy.
Inflation expectations of the population for the year ahead are estimated at 14.6% (13.7%) and remain elevated. Expectations of professional market participants for inflation for 2026 are maintained at the level of 10.0%.
In the external sector, the escalation of tensions in the Middle East is accompanied by an increase in world prices for energy, food and fertilizers. This increases inflationary pressure in a number of countries and elevates the risks of rising import costs for Kazakhstan. In Russia, inflation remains elevated, while the Bank of Russia maintains its orientation toward its return to the target in 2027. In the Eurozone and the USA, the acceleration of inflation in March was accompanied by growing uncertainty and increased inflation risks. In these conditions, the ECB and the Federal Reserve kept interest rates unchanged, confirming a more cautious approach to further decisions.
Economic growth based on preliminary data in January-March 2026 amounted to 3.0% in annual terms. Despite the weaker dynamics of the oil sector, economic growth as a whole remains resilient due to high activity in a number of sectors. The strongest growth rates are observed in construction, transport, manufacturing, and trade.
Pro-inflationary risks are primarily associated with the strengthening of external inflationary pressure amid the conflict in the Middle East. Additional risks stem from the resumption of utility and fuel tariff increases above inflation after the completion of the moratorium, as well as secondary effects from the increase in regulated prices, including through higher input costs for businesses. The ongoing adaptation of businesses to tax changes and persistently elevated inflation expectations require monitoring. In the medium term, consistent fiscal consolidation and appropriately calibrated quasi-fiscal stimulus remain an important condition for maintaining the disinflationary trajectory.
Current disinflationary processes are facilitated by the gradual normalization of consumer demand, including a slowdown in retail lending. These dynamics are taking shape against the backdrop of continued moderately tight monetary conditions. Along with this, measures to reduce excess liquidity are being taken, including the increase in minimum reserve requirements (MRR) and mirroring operations. The strengthening of the tenge exchange rate provides support for disinflation.
The emerging disinflationary dynamics require further consolidation. Before transitioning to the easing of monetary conditions, it is necessary to obtain confirmation of the sustainability of the disinflationary process amid the resumption of regulated price and tariff reforms, as well as the intensification of the quasi-fiscal impulse in the second half of the year. In addition, the monitoring and analysis of the economy's adaptation to tax changes is important. The external economic environment requires close monitoring.
The National Bank will continue to assess the rates of inflation decline, the dynamics of domestic demand, the actual execution of fiscal consolidation, the parameters of quasi-fiscal stimulus and regulated prices, as well as the emerging external environment and its influence on inflationary processes. Provided that current trends persist and no new shocks arise, the National Bank will be ready to consider the possibility of reducing the base rate in its subsequent decisions.
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Prospects for Expanding Cooperation with the United Nations Economic Commission for Europe Discussed at Kazakh Foreign Ministry
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Minister of Foreign Affairs of the Republic of Kazakhstan Yermek Kosherbayev met with United Nations Under-Secretary-General, Executive Secretary of the United Nations Economic Commission for Europe (UNECE) Tatiana Molcean, Ministry of Foreign Affairs of the Republic of Kazakhstan reports.
The parties discussed the current state and future prospects of cooperation between Kazakhstan and the UNECE, including engagement in the areas of sustainable development, environment, transport and energy. The importance of further strengthening partnership within multilateral platforms, including the United Nations Special Programme for the Economies of Central Asia, was emphasized.
Particular attention was paid to the implementation of the climate agenda, the development of regional infrastructure, as well as the promotion of Kazakhstan’s initiatives within the UN system. In this context, the Foreign Minister highlighted the importance of the international consultations held on the margins of the Regional Ecological Summit on the initiative of the Head of State to establish an International Water Organization within the UN system.
Following the meeting, both sides confirmed their mutual interest in expanding cooperation and coordinating efforts on international platforms.
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Kazakh President meets with chairwoman of Eastern Committee of German Economy
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President Kassym-Jomart Tokayev met with Cathrina Claas-Mühlhäuser, the chair of the Board of the Eastern Committee of the German Economy and chairwoman of the Supervisory Board of CLAAS Group, to discuss prospects for further strengthening Kazakh-German economic cooperation, Qazinform News Agency cites Akorda.
The Kazakh leader thanked the chair of the Board of the Eastern Committee of the German Economy for her great contribution to developing bilateral ties, as well as expressed his confidence in the continued support for joint initiatives and projects.
In turn, Cathrina Claas-Mühlhäuser congratulated Kassym-Jomart Tokayev and the people of Kazakhstan on the success of the referendum on the adoption of the new Constitution.
The meeting highlighted the great potential to expand trade, investment, and industrial cooperation, with particular focus given to deepening bilateral ties in energy, machinery, agriculture, logistics, and water management.
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Kazakhstan, Mongolia trade to reach USD 500 mln
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Kazakhstan and Mongolia plan to raise their bilateral trade turnover to 500 million US dollars, President Kassym-Jomart Tokayev said, delivering the joint statement following talks with the Mongolian President at the Akorda Palace in Astana, Qazinform News Agency reports.
He said last year trade turnover between the two countries reached 130 million US dollars that is 7.7% more compared to the previous year.
Kassym-Jomart Tokayev emphasized that both nations have the economic potential to achieve further growth. To this end, the nations set a goal to increase their trade up to 500 million US dollars in the coming years. It is crucial to expand mutual trade and reduce barriers hindering economic cooperation.
The Head of State noted a month ago that the country’s trading mission paid a working visit to Mongolia.
As stated there, a temporary trade agreement between Mongolia and the Eurasian Economic Union (EAEU), ratified last year, opens new opportunities for both sides.
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Kostanay may become future site for NPP - Satkaliyev
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Chairman of Kazakhstan’s Nuclear Energy Agency Almassadam Satkaliyev has identified potential sites for the construction of nuclear power plants, Qazinform News Agency reports.
He noted that several key locations are currently under consideration.
First of all, the Balkhash area, which can accommodate up to six large power units. There is also Kurchatov, a site with strong potential for the development of small and medium-sized reactors," Satkaliyev said on the sidelines of the Akorda.
He also highlighted western Kazakhstan, where there is already experience in operating energy facilities.
In addition, several other sites across the country are currently under study. In the longer term, Kostanay could also become a promising location for nuclear power plant construction in Kazakhstan, possibly in 20-30 years," the agency head added.
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