Direct investments from Luxembourg into Kazakhstan reach USD 2.9 bln

Kazakh FM
Photo credit: mfa.kz

Deputy Prime Minister and Minister of Foreign Affairs of the Republic of Kazakhstan, Murat Nurtleu, paid an official visit to the Grand Duchy of Luxembourg, Kazinform News Agency cites the Kazakh Foreign Ministry. 

During the visit, the head of Kazakhstan’s Foreign Ministry held meetings with Luxembourg’s Prime Minister Luc Frieden and Deputy Prime Minister and Minister of Foreign and External Trade, Xavier Bettel.

The parties addressed major topics of cooperation between Kazakhstan and Luxembourg, as well as promising areas such as financial technology, and sustainable development through green energy, pharmaceuticals, and transportation infrastructure projects. Both sides reaffirmed the need to deepen economic ties and expand opportunities for the business communities of both countries.

Prime Minister Luc Frieden noted that “Luxembourg views Kazakhstan as a reliable partner in Central Asia and sees great potential for further deepening trade and economic cooperation between our countries.” He expressed readiness to support the Kazakh side in its efforts to modernize key sectors of the economy and implement advanced technologies.

In turn, the Kazakh Foreign Minister emphasized that Luxembourg is an important partner for Kazakhstan within the European Union. Since 2005, the gross inflow of direct investments from Luxembourg into Kazakhstan has amounted to 2.9 billion US dollars.

The parties also focused on the interaction between Kazakhstan and the European Union, emphasizing the expansion of trade and economic ties, as well as cooperation on security and stability issues in Central Asia. In addition, both sides exchanged views on current international agenda topics.

Luxembourg’s Foreign Minister Xavier Bettel emphasized that Luxembourg greatly values Astana’s efforts in strengthening regional security. It was noted that both countries share common views on global challenges. Luxembourg is ready to enhance cooperation with Kazakhstan in the areas of international security and sustainable development, seeing great potential for joint efforts within the framework of the United Nations and other international organizations aimed at promoting peace and stability.

In conclusion, both parties reaffirmed their intention to strengthen bilateral relations at all levels and to actively cooperate within international organizations to address key regional and global challenges.

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