An Italian state bank, Cassa Depositi e Prestiti, plans to establish a new credit line in Kazakhstan, as announced by Edmondo Cirielli, Italy’s Deputy Minister of Foreign Affairs and International Cooperation. Cirielli made the announcement during his meeting with Arman Shakkaliyev, Kazakhstan’s Minister of Trade and Integration, on October 29 in Astana.
Cirielli stated: “We are confident that our relations will only strengthen in the trade and economic sphere. Kazakhstan occupies a key position in Central Asia and connects Europe with the region. We plan to open a credit line of our state bank, Cassa Depositi e Prestiti, in Kazakhstan.”
Minister Shakkaliyev noted that Italy is Kazakhstan’s third-largest trading partner among European Union countries. In 2023, trade turnover between the two countries amounted to $16.1 billion, 7.8% more than the previous year. Exports from Kazakhstan to Italy reached $14.8 billion, and imports stood at $1.2 billion.
In January-August 2024, bilateral trade increased by 33%, reaching $13.8 billion, with Kazakh exports rising by 36% to $12.9 billion.
Astana hosted the 9th Kazakh-Italian working group meeting on economic and industrial cooperation on October 29. Deputy Minister of Foreign Affairs Edmondo Cirielli headed the Italian delegation.
The meeting focused on increasing the transportation volume along the Trans-Caspian International Transport Route, which will create additional opportunities for bilateral trade. The parties also confirmed their interest in developing the transport and logistics sector.
Kazakhstan proposed expanding cooperation in the agricultural sector, including fruit and vegetable growing and grain processing and expressed its readiness for long-term partnerships with Italian grain processors and the supply of high-protein wheat to the Italian market.
Italian companies were encouraged to invest in Kazakhstan’s renewable energy sector and the Khorgos Special Economic Zone, strategically located on the Kazakh-Chinese border.
