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Abu Dhabi-based investment company ADQ and Kazakhstan-based Qazaqstan Investment Corporation announced a co-investment platform on Monday.

This co-investment platform will be focused on several high-growth sectors, including financial services technology, education technology, energy transformation and clean technology, food and agriculture, mobility, and healthcare.

The cooperation will allow both investment firms to explore and leverage investment opportunities in Kazakhstan, with a focus on other Central Asian and Caucasus regions. Under this partnership, both investment firms will make equal financial and operational contributions.

Mohamed Hassan Alsuwaidi, Managing Director and CEO of ADQ, explained that this platform highlights the Abu Dhabi-based investment company's commitment to building partnerships in key markets that complement the firm's investment strategy.

"We are confident that our collaboration will bring forward notable investments that will unlock tangible value and contribute to the economic growth of the UAE, Kazakhstan and the wider Central Asia and Caucus region," Alsuwaidi was quoted as saying by WAM.

Nurlan Baibazarov, the chairman of the parent organization of Qazaqstan Investment Corporation -- Baiterek National Management Holding JSC -- noted that they are interested in developing bilateral relations between Kazakhstan and the United Arab Emirates (UAE).

Baibazarov explained that the firm wants to attract "direct investment to implement investment projects in the manufacturing industry and infrastructure," and added that "investment cooperation between Qazaqstan Investment Corporation and ADQ will have great potential for further economic development of the entire region."

Qazaqstan Investment Corporation was established in 2007 to help with the national economy of Kazakhstan by contributing to growth and development. ADQ, on the other hand, was founded in 2018.

The Republic of Kazakhstan and UAE have shared strong bilateral relations since 1992 in sectors like trade and economics.

During the United Nations Conference on Trade and Development's 8th World Investment Forum in October, Kazakhstan's Minister of Trade and Integration Arman Shakkaliyev praised the UAE for providing his country with good opportunities to grow bilateral trade relations.

"We get some great plans to unlimit our trade for three times to $1 billion," Shakkaliyev said at that time, as per WAM. "We have started to work with large logistics companies such as Simatech Shipping Forwarding and Abu Dhabi Ports Group to develop a new transport route for the supply of agricultural goods from the Kazakh port of Kuryk to the Gulf countries."

Shakkaliyev noted that this route allowed Kazakhstan-based exporters to deliver products within three days via the UAE ports to countries like India, Pakistan, Asia-Pacific countries, and the east coast of Africa.