On January 18, Kazakhstan President Kassym-Jomart Tokayev paid an official visit to Italy.
Tokayev held talks with the President of the Council of Ministers of Italy, Giorgia Meloni.
During the talks, Tokayev said that Kazakhstan and Italy have established close economic cooperation, as well as fruitful cultural and humanitarian ties. “We are proud to be Italy’s main partner in Central Asia. Our economic cooperation is developing very dynamically and has enormous potential for further growth,” the Kazakh President said, as reported by his press service.
He also said that Italy is among the largest investors in the Kazakh economy. Trade turnover between the two countries amounted to about $15 billion, direct foreign investment from Italy to Kazakhstan reached $7.3 billion, and more than 300 Italian companies operate in Kazakhstan.
During the talks, Tokayev and Meloni discussed deepening cooperation in the trade, economic, investment, energy, transport and logistics, agricultural, cultural, humanitarian, and educational spheres, as well as issues of green energy and the development of air communications between the capitals of the two countries.
In their joint statement issued following the talks, Tokayev and Meloni noted with satisfaction the launch of major transport and connectivity initiatives in Central Asia, particularly those related to the development of the Trans-Caspian International Transport Route. They also emphasized the importance of holding the “Central Asia + Italy” format meeting in Rome in 2024 and in Kazakhstan in 2025.
As part of his visit, President Tokayev took part in the Investment Roundtable “Kazakhstan-Italy” in Rome.
Speaking at the forum, Tokayev said that the energy sector is the main area of economic cooperation between Kazakhstan and Italy. “More than 80% of Kazakhstan’s oil is exported to Europe, which provides for about 10% of the EU’s needs. I would like to express my gratitude to Italy, a long-time and reliable energy partner of Kazakhstan. We highly appreciate the contribution of the Italian flagship company Eni to the economy of Kazakhstan. Kazakhstan provides ample opportunities in the field of oil and gas exploration. We implement the best global practices to discover significant deposits. We also invite Italian companies to participate in servicing the oil and gas industry,” the Kazakh president said.
Tokayev also called on the Italian business community to invest in the extraction and processing of critical raw materials in Kazakhstan, saying that “according to World Bank estimates, there are more than five thousand undiscovered deposits in Kazakhstan worth more than $46 trillion. Today we already produce 19 of the 34 most important raw materials needed for the economy of the European Union. Deposits of another nine types of minerals, such as cobalt, tungsten, and lithium, can be developed if the necessary investments are available”.
Tokayev said that another relevant area of cooperation is the transport and logistics sector. In an effort to become a regional hub, Kazakhstan is actively developing the Trans-Caspian international transport route. “The Middle Corridor effectively complements [China’s] Belt and Road Initiative. We intend to link it with the EU’s Trans-European Transport Network and the Global Gateway strategy,” he said.
Tokayev called on Italian investors to take an active part in the development of Kazakh seaports, joint production of transport vessels and creation of logistics centers. “With 13 international routes across Kazakhstan and direct flights between Almaty and Milan, we are connected like never before. We welcome plans to open direct flights between Astana and Rome and Milan. This will certainly contribute to the development of our economic relations and connections between our peoples, as well as to the promotion of tourism,” the Kazakh president said.
Photo: akorda.kz
