Kazakh PM Bektenov meets heads of EU diplomatic missions to discuss cooperation issues
Prime Minister Olzhas Bektenov of Kazakhstan chaired the 15th meeting of the Kazakhstan-EU dialogue platform attended by Kestutis Jankauskas, Ambassador of the European Union to Kazakhstan, and heads of diplomatic missions of EU countries, primeminister.kz reports.
The meeting discussed issues of greater trade and economic, investment interaction as well as joint implementation of projects in transport and logistics.
It was noted that over 40% of the investments attracted and around 30% of the total foreign trade of Kazakhstan fall at the European Union, making it a key trade partner.
In particular, the plans to develop the Trans-Caspian International Transport Route as one of the most promising directions were under discussion. Kazakhstan is responsible for nearly 85% of transit of goods from China to the EU countries, delivered in just 12-15 days via the TITR.
During the meeting, the interest was expressed to tap into the ample potential of the Middle Corridor. It was noted that the Middle Corridor Multimodal joint enterprise operates at the Astana International Financial Center. Besides, the role the European initiative Global Gateway plays in offering opportunities for investment in the transport sector was pointed out.
The EU is the major and important investment and trade partner of Kazakhstan. We’re working in all areas of priority. The government commends the contribution and involvement in strengthening cooperation between our countries. Our country is always ready for proposals aimed at greater mutually beneficial partnership, stated Bektenov.
In their turn, Kestutis Jankauskas, EU Ambassador to Kazakhstan, and Mădălina Lupu, Romanian Ambassador to Kazakhstan, commended the work Kazakhstan carries out to improve its business climate. The heads of the diplomatic missions also stressed Kazakhstan’s economic sustainability and attractiveness for European business. Following the event, the commitment to further promote and enhance trade and economic relations so as to take the strategic partnership to a new level was reiterated.
In January-May 2024, the Kazakhstan-EU trade turnover was estimated at 19.9 billion US dollars, showing a 15.8% year-over-year increase. The EU invested in the Kazakh economy 10.4 billion US dollars last year and 2.8 billion US dollars in Q1 2024, with major investments coming from the Netherlands, Belgium, France, Germany, Italy, Cyprus and Luxembourg.
