BAKU: The EU and Kazakhstan are poised for successful cooperation in the critical raw materials sector, Kestutis Jankauskas, EU Ambassador to Kazakhstan, told Trend.
“EU – Kazakhstan Enhanced Partnership and Cooperation Agreement provides a legal base for cooperation in 29 areas. Over the last several years, trade cooperation between the EU and Kazakhstan has been growing. While energy, including renewables, remains the largest area of cooperation, there is a growing potential of cooperation in the area of critical raw materials as provided by the bilateral memorandum signed in November 2022,” he said.
According to the ambassador, agriculture and water management offer good investment opportunities.
“Development of the Trans-Caspian International Transport Corridor is expected to attract cargo flows from all the countries of Central Asia and to provide not only for transit but also for transport and logistic hub development. The advancement of aviation will enable better people-to-people contacts in busine
ss, education, and tourism. Our Digital Satellite connectivity project will provide alternative connectivity and better internet to remote villages,” he noted.
Jankauskas pointed out that the EU and Kazakhstan established diplomatic relations 31 years ago, and since then, the sides are developing mutually beneficial partnership. Over the years, the EU has become Kazakhstan’s largest trading partner and the biggest investor in the country.
“During the three decades, the EU has implemented a variety of projects to advance our mutual relations as well as security and stability of the countries in Central Asia: on border management, rule of law, fight against smuggling, water management, green transformation, energy efficiency, promotion of interregional trade and trade with the EU, SMEs, education, strengthening resilience and human capital development,” he said.
Meanwhile, Kazakhstan’s trade turnover with the EU countries amounted to $42.6 billion from January through December 2023. The volume of trade turno
ver increased by 1.7 percent compared to the same period in 2022 ($41.8 billion).
At the same time, exports to the EU countries for the above period amounted to $31.7 billion, which is 6.4 percent less than from January through December 2022 ($33.8 billion). Kazakh imports from the EU countries in the reporting period increased by 36.1 percent and amounted to $10.9 billion. In 2022, imports amounted to $8 billion.
Source: Trend News Agency