On January 15 in Astana, the Prime Minister of Kazakhstan, Alikhan Smailov and Vice-President of the European Commission, Margaritis Schinas discussed further steps to strengthen trade and economic relations between Kazakhstan and the European Union.
The parties considered issues of increasing trade turnover, attracting investment, strengthening cooperation in the transport and logistics sector, easing the visa regime, and increasing industrial cooperation, the Kazakh prime minister’s press service reported.
Smailov emphasized that strengthening relations with the European Union is of particular importance for Kazakhstan, with the new Enhanced Partnership and Cooperation Agreement and the new EU Strategy for Central Asia playing a significant role in bilateral relationship.
The Prime Minister added that the EU is one of the largest trade and investment partners of Kazakhstan, accounting for about 30% of the country’s foreign trade and about 40% of investments attracted.
Trade between Kazakhstan and the EU over the first 11 months of last year increased by almost 5% and reached about $38 billion. In 2022, investments from the EU in Kazakhstan amounted to $12.5 billion, a record high over the last 10 years.
“Today there are almost 6,000 joint ventures [with European partners] operating in Kazakhstan, and 130 of which appeared in the last year. This highlights the sustainability and attractiveness of our economy for European partners. We call on the European investment community to expand participation in joint projects,” Smailov said.
He added that an important area of cooperation is the transit and transport sector. Today, about 85% of goods from China to Europe are transported through Kazakhstan. Last year, the volume of cargo shipped along the Trans-Caspian international transport route increased by 65%. In the medium term, the cargo traffic is expected to increase to 10 million tons.
The Vice-President of the European Commission stated that Kazakhstan is an important partner for the European Union. “We know that you are undergoing major modernization processes. On behalf of the European Union, I would like to note the importance of the reforms initiated by President Kassym-Jomart Tokayev, which make Kazakhstan a very significant player in the Central Asian region,” said Margaritis Schinas.
