Kazakhstan to open first regional trade hub in Kuala Lumpur

By TMR / Pic by TMR GRAPHIC

Tanah Melayu Capital Bhd (TMCB), a home-grown information technology and business networking specialist plans to sign a Memorandum of Cooperation with the Ministry of Trade and Integration of the Republic of Kazakhstan to work on the organization of the Qazaq Trade Hub in Kuala Lumpur.

A digital MoU signing ceremony will be held on the nearest date and will be witnessed by Heads of State from both Kazakhstan and Malaysia, the company said in a statement today.

The Qazaq Trade Hub, the first of its kind in Southeast Asia, is envisioned to be a comprehensive one-stop centre to enhance trade and investment between Kazakhstan and Malaysia. 

It will also be a primary platform for Kazakhstan to reach out and engage other countries within the Southeast Asia region to bolster commercial opportunities and business activities.

“TMCB is able to combine our expertise in information communications and technology (ICT) alongside our local market insights and relationship with key public and private stakeholders to make Qazaq Trade Hub a success,” said Ridhwan Rosli, Director of TMCB.

He added, Malaysia’s strategic location in the heart of Southeast Asia makes it an ideal site for the Qazaq Trade Hub. 

“Malaysia is currently Kazakhstan’s largest trading partner in the region, with trade of about RM600 million in value per annum. The presence of this Hub is expected to bolster trade further while potentially driving more foreign direct investments into Malaysia,” he added.

Vice Minister of Trade and Integration of the Republic of Kazakhstan Assel Zhubanyshevna Zhanassova said, the Qazaq Trade Hub reaffirms that Kazakhstan is open for business and is pro-actively seeking avenues to grow and diversify trade and investment in the spirit of global economic collaboration.