On his first state visit to Singapore on May 23, Kazakhstan President Kassym-Jomart Tokayev engaged with Singaporean President Tharman Shanmugaratnam to enhance connectivity, access critical raw materials, and deepen economic cooperation. This significant diplomatic engagement aims to fortify bilateral relations between the two nations.
Presently, over 140 Singaporean firms and joint ventures operate within Kazakhstan, with investments topping $1.7 billion. Bilateral trade is expected to exceed $2 billion shortly. President Tokayev praised Singapore as a “time-tested and reliable partner,” expressing confidence that his visit would further solidify these ties during discussions with Singapore Prime Minister Lawrence Wong.
Addressing the complementary economic dynamics, Prime Minister Wong highlighted Singapore’s role as a conduit for Kazakhstan’s deeper integration with ASEAN countries, while Kazakhstan could similarly enhance Singapore’s connections to Central Asia. Both leaders committed to broadening cooperation across various sectors, including green energy, transport, logistics, digitalization, finance, agribusiness, and mining.
Key among the developments discussed was the Alatau City (G4 City) project—a Special Economic Zone spanning a thousand kilometers, set to unfold in the Almaty region with input from Singaporean firm Surbana Jurong. This initiative is touted as a catalyst for economic expansion in Central Asia, with President Tokayev thanking the Singaporean company for its strategic planning efforts.
Additionally, the evolving partnership between Singapore’s PSA International and Kazakhstan’s national railways company, Kazakhstan Temir Zholy (KTZ), aims to enhance the capabilities of the Trans-Caspian International Transport Route (TITR). This collaboration includes a Memorandum signed to elevate Kazakhstan’s transport potential and an agreement to augment cargo transit volumes through Kazakhstan using their combined assets in China.
At the Kazakhstan-Singapore Business Forum, President Tokayev underscored the strategic importance of TITR as the “shortest and most sustainable route from Central and East Asia to Europe,” set to significantly elevate Eurasian economic cooperation. He also spotlighted Kazakhstan’s role as a potential major supplier of critical raw materials and natural resources to Singapore, with expectations for global demand for rare metals to quadruple by 2040. Given its extensive unexplored deposits, Kazakhstan is ready to engage with Singapore’s Indorama company on copper and phosphate exploration projects.
President Tokayev’s appeal for expanded partnerships in clean energy production and technology transfer marks a pivotal moment in the burgeoning relationship between Kazakhstan and Singapore, setting a dynamic course for future collaboration.
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