ASTANA – The European Union and Kazakhstan are strengthening bilateral cooperation opportunities in trade and investment, transport, energy, agriculture, travel, and education, said Deputy Foreign Minister Roman Vassilenko at a Central Communications Service briefing on March 10.

Vassilenko outlined the ministry’s efforts in boosting investment exchanges and establishing business partnerships in recent years.

The EU has invested $160 billion in Kazakhstan, making it the largest investment partner. It is also the largest trading partner of the country.

“In the first nine months of 2022, the inflow of European investments increased by 10 percent and exceeded $8 billion. The EU accounts for approximately 30 percent of Kazakhstan’s foreign trade. In 2022, the volume of trade exceeded the 2021 figure by 27.6 percent, reaching $40 billion. These are record-high figures since Britain’s exit from the EU. The dynamic growth continues this year as well,” reported Vassilenko.

He noted that the visits of European Council President Charles Michel to Astana in October and of Josep Borrell, EU’s High Representative for Foreign Affairs and Security Policy and Vice-President of the European Commission, in November became significant milestones in the relationship between the EU and Kazakhstan, as the 30th anniversary of the establishment of diplomatic relations approached this year.

President of the European Commission, Ursula von der Leyen, is now expected to visit this year, added Vassilenko, to further advance discussions on cooperation in rare earth metals and critical raw materials, among other things.

The EU-Kazakhstan cooperation is built on the Enhanced Partnership and Cooperation Agreement (EPCA), which entered into full force in March 2020 covering 29 areas of cooperation, including in the spheres of the economy, trade, and investment, education and research, civil society and human rights, among others.

“Last year, our country launched cooperation in new areas such as rare earth metals, green hydrogen, batteries, transport, and logistics potential development, and the diversification of commodity supply chains,” said Vassilenko.

Source : astanatimes.com/2023/03/ For More Details