Trade turnover between Kazakhstan and EU amounts to nearly US$14 billion

Trade turnover between Kazakhstan and EU amounts to nearly US$14 billion

Trade turnover between Kazakhstan and the European Union amounted to nearly US$14 billion for seven months of this year. Foreign direct investment in the first quarter of 2020 reached US$1.72 billion. This was announced during a meeting of the EU-Kazakhstan Cooperation Committee held via video conference, press office of Kazakh Foreign Ministry reported.

The main topics discussed during the online meeting were the strengthening of political dialogue and multilateral economic, trade and investment relations between Kazakhstan and EU member states as part of the Enhanced Partnership and Cooperation Agreement, which entered into force on March 1 this year.

To date, more than 4,000 companies with European capital and more than 2,000 joint ventures are registered in Kazakhstan. 17 projects have already been implemented for a total of US$641 million. Another 37 projects are being developed and implemented with the participation of investors from EU countries. Their cost is estimated at US$8.8 billion.

In addition, the participants of the video conference exchanged views on the implementation of previously reached agreements between Kazakhstan and the EU, namely, dialogue platforms on trade, energy, environmental protection, agriculture and human rights. The issues of air travel and visa facilitation for Kazakh citizens were also discussed.

 

Photo: baigenews.kz