Kazakh Prime Minister Karim Masimov has invited specialists from Saudi Arabia to develop Islamic banking in Kazakhstan.

"We are very interested in your experience in this important and fast growing financing sector," Masimov said on Monday at Kazakh-Saudi business forum.

Masimov noted that Kazakhstan became the first country in CIS and Central Asia that adopted law on development of Islamic financing.

The Head of Kazakh Government also noted the necessity of cooperation strengthening in other branches of economy.

"We need your help to achieve set goals to attract investments," Masimov said.

He noted that there is a number of industries, where the cooperation is possible. In particular, Masimov offered to invest into agriculture, energy and tourism.

"The time has come when our cooperation should be taken to the next level," Masimov said.

Amr Dabbagh, Governor and Chairman of the Board of Directors of the Saudi Arabian General Investment Authority (SAGIA), that trade turnover between the countries does not comply with the existing potential. He said, trade turnover amounts to US$ 70 million. "We will encourage private sector of Saudi Arabia to invest into Kazakhstan," Dabbagh said.

Trade turnover between Kazakhstan and Saudi Arabia in 2008 amounted to US$68.5 million, out of which export - US$ 65.5 million, import - US$2.6 million.