Tokayev and Macron Forge New Path for French Investments in Kazakhstan

Image: TCA, Aleksandr Potolitsyn

The Paris summit between Kazakhstan’s President Kassym-Jomart Tokayev and France’s President Emmanuel Macron was a significant event in their countries’ evolving bilateral relations. The high-level discussions were centered on deepening cooperation across trade, economic investment, cultural, and humanitarian issues. The talks have reaffirmed and broadened existing frameworks, foretokening robust and diversified collaboration.

The historical foundation of Kazakh-French relations, particularly in the economic sphere, has long been strong. French multinational corporations, such as TotalEnergies, have played significant roles in Kazakhstan’s major energy projects, including the Kashagan oil field. At the recently concluded summit, President Tokayev held meetings with prominent French business figures, seeking to enhance investment flows and economic partnerships across the renewable energy, infrastructure, and technology sectors.

France recognizes Kazakhstan’s strategic significance in Central Asia and seeks to deepen the partnership, which also complements Europe’s generally expanding engagement with the region. The summit builds on a series of annual encounters that sustain the momentum in Kazakhstan–France relations. In November 2023, a year after President Tokayev’s trip to France in November 2022, President Macron made an official visit to Kazakhstan. This visit highlighted the shared interests between the two countries and underscored the importance of their growing cooperation.

The meeting not only strengthened political dialogue but also laid the groundwork for further economic, cultural, and technological collaboration, reflecting a commitment to long-term partnership. The regularity of summits between Kazakhstan and France, besides indicating the pragmatic nature of their relationship, speaks to the personal rapport between Tokayev and Macron. The sustained, high-level engagement indicates a mutual appreciation for reliable and constructive diplomacy.

The Paris summit continues the momentum and deepens the strategic significance of relations between Kazakhstan and France relations, as the new agreements demonstrate their common intention to leverage shared interests in pursuit of more comprehensive cooperation.

At the 2022 meetings, 25 economic agreements were signed amounting to a value of $3 billion, according to Kazakhstan’s Ministry of Foreign Affairs. If we include the agreements signed at the 2023 meetings, then the newest agreements bring the overall total to $6.4 billion. Bilateral trade reached $4 billion from January to August this year, representing a 44.7 percent increase compared to the same period in 2023. Kazakhstan’s exports to France for the same period rose by 45.2 percent to $2.7 billion for the first eight months of 2024. These exports were heavily concentrated in crude oil and uranium.

Just ahead of Tokayev’s visit to Paris, the city hosted the 13th meeting of the Kazakhstan–France Business Council. Twenty-four documents were signed there, worth $2 billion, which spanned the agro-industrial, information-technology, light industry, medicine and mining sectors, not to mention a continuing interest in the energy sector.

Kazakhstan’s proactive engagement, including its receptivity to French participation in the NPP consortium is in the line of the country’s balanced and pragmatic approach to international partnerships. For France, this partnership deepens its footprint in Central Asia while also promoting the policy goals of broader energy diversification and geopolitical influence.  Kazakhstan represents 90 percent of France’s trade with Central Asia.

A particularly noteworthy aspect of the discussions was the prospect of France’s inclusion in a consortium to construct Kazakhstan’s recent referendum in favor of constructing the country’s first nuclear power plant (NPP). President Kassym-Jomart Tokayev has stated that an international consortium should be established in the country for the NPP’s construction.

France’s Orano already has agreements with Kazakhstan for cooperation uranium production. Électricité de France (EDF) is the world’s largest NPP operator, recognized for its expertise in NPP management. Kazakhstan’s negotiations with Orano and EDF, with a view toward deciding their participation in the consortium, will get under way soon. Other countries mentioned in this context include China, Russia, and South Korea.

President Tokayev’s invitation to France to participate indexes Kazakhstan’s strategy of balancing diverse international partnerships. The move could also provide France with a foothold in a significant project that aligns with its expertise in nuclear energy and its geopolitical interests in Central Asia. This cooperation has the potential to extend beyond established sectors into new energy-development and infrastructure projects, as well as investment in innovation and digital technology. The growing bilateral partnership also emphasizes cultural and educational exchange.

A key topic anticipated for this summit is Kazakhstan’s evolving role as a neutral mediator in international conflicts. Given its track record in facilitating dialogues over the Armenia–Azerbaijan conflict and earlier Syrian negotiations, Kazakhstan is a potential intermediary in the ongoing Russia–Ukraine crisis. For Kazakhstan to act as a diplomatic platform here would further heighten its prestige and profile as a stabilizing force in global affairs. It is not out of the question that such a meeting could be expanded with French support or coordination.

Dr. Robert M. Cutler

Dr. Robert M. Cutler

Robert M. Cutler has written and consulted on Central Asian affairs for over 30 years at all levels. He was a founding member of the Central Eurasian Studies Society’s executive board and founding editor of its Perspectives publication. He has written for Asia Times, Foreign Policy Magazine, The National Interest, Euractiv, Radio Free Europe, National Post (Toronto), FSU Oil & Gas Monitor, and many other outlets.

He directs the NATO Association of Canada’s Energy Security Program, where he is also senior fellow, and is a practitioner member at the University of Waterloo’s Institute for Complexity and Innovation. Educated at MIT, the Graduate Institute of International Studies (Geneva), and the University of Michigan, he was for many years a senior researcher at Carleton University’s Institute of European, Russian, and Eurasian Studies, and is past chairman of the Montreal Press Club’s Board of Directors.

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