EU-Kazakhstan High-Level Business Platform focuses on investment issues

NUR-SULTAN (TCA) — The EU-Kazakhstan High-Level Platform of dialogue on economic and business matters held its second meeting in Nur-Sultan on October 1, chaired by Kazakhstan Prime Minister Askar Mamin. The event brought together leading European companies and EU heads of mission led by EU Ambassador to Kazakhstan Sven-Olov Carlsson.

Ambassador Carlsson highlighted the positive and concrete impact of the High-Level Platform, launched earlier this summer, for regular exchange of views between the European Union, its businesses and the Kazakh Government. He also highlighted the EU funded programs that shortly will be launched or are ongoing, in the areas of trade facilitation, the rule of law and the financing of small and medium enterprises, the Delegation of the European Union to Kazakhstan reported.

Participants discussed cooperation on the investment climate and business environment, including recent and planned legislation in the areas of environment protection, currency regulations and control, and import of agricultural machinery.

Prime Minister Mamin said that Kazakhstan’s First President Nursultan Nazarbayev and Head of State Kassym-Jomart Tokayev pay great attention to cooperation with the countries of the European Union, which is one of the most important trade and economic partners of Kazakhstan, the prime minister’s press service reported.

EU countries account for more than half of foreign direct investment in Kazakhstan. Between 2005 and the first half of 2019, the EU invested about $150 billion in Kazakhstan. The EU also acts as the largest trading partner of Kazakhstan – as of July 2019, bilateral trade in goods and services had reached almost $20 billion.

“The contribution of EU experts was important for the development and implementation of some of our key strategies and documents in the areas of governance, privatization, digitalization, public-private partnerships, sustainable development, which continue to play a big role in promoting the growth of the Kazakhstani economy and improving the well-being of the country’s population,” said Mamin.

Mamin called on the ambassadors of the European Union countries to further open and active dialogue to promote economic cooperation between Kazakhstan and the EU.

With over 75% of oil exports going to the EU (representing approx. 6% of total EU imports), Kazakhstan is already the third largest non-member of the Organisation of the Petroleum Exporting Countries supplier for the EU, the Delegation of the European Union said. From the EU Kazakhstan imports machinery, transport equipment and pharmaceuticals, alongside chemical products, plastics, medical devices and furniture. The EU-Kazakhstan Enhanced Partnership and Cooperation Agreement, signed in Nur-Sultan on 21 December 2015, aims at creating a better regulatory environment for businesses in areas such as trade in services, establishment and operation of companies, capital movements, raw materials and energy, intellectual property rights.

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