Kazakhstan and Italy hold first business forum

NUR-SULTAN (TCA) — The First Kazakh-Italian business forum was held in Nur-Sultan. The event, organized as part of the working visit of the Deputy Minister of Foreign Affairs of the Italian Republic Manlio Di Stefano to Kazakhstan, was attended by over 200 representatives of business circles, national companies, and government bodies of the two countries, Kazakh Invest national investment promotion company reported on November 13.

The forum discussed prospects for the development of projects in the fields of energy, renewable energy, petrochemical, manufacturing and agricultural sectors. Italian businessmen operating in Kazakhstan shared their impressions of activities in the country and recommended that the representatives of the Italian business community study objectively the business opportunities in Kazakhstan, as the conditions for investors were found to be comfortable.

In his speech, Italian Deputy Foreign Minister Manlio Di Stefano said that Kazakhstan has managed to achieve significant successes, ensuring stable economic development and a favorable investment climate, and a high level of successful and effective relations between Kazakhstan and Italy has been achieved.

“I am sure that today’s business forum will give impetus to the development of economies and business ties between the two countries. We have huge opportunities to expand trade, economic and investment cooperation,” said Mr. Manlio Di Stefano.

Ambassador-at-large of the Ministry of Foreign Affairs of Kazakhstan Yerlan Khairov underlined that Kazakhstan and Italy have great potential for increasing investment cooperation, urging businessmen of the two countries to actively establish business contacts and implement investment projects.

“Between our countries there is considerable potential for expanding and deepening bilateral partnerships in the economic sphere, especially in the three priority sectors, such as alternative energy, agriculture and digitalization,” he said.

During the forum, representatives of Kazakhstan’s Pavlodar Social-Entrepreneurship Corporation JSC held talks with the management of Italy’s Naba Carni on the implementation of a joint project for the processing of horse meat in the Pavlodar region. Also, an agreement was reached between the delegation of the Pavlodar SEC and the Rota Guido company to consider an investment project in the development of an agro-industrial complex.

Italy is one of the leading investors in the economy of Kazakhstan, with the volume of Italian investments in the Kazakh economy totaling 6.6 billion US dollars.

The trade turnover of Kazakhstan with Italy for 8 months of 2019 amounted to 6.7 billion US dollars.

Kazakhstan’s exports to Italy include crude oil and gas condensate, petroleum products derived from bituminous minerals, fuel oil, and wheat, as well as metals (zinc, gold, copper, and ferroalloys).

Kazakhstan imports from Italy consumer goods, machinery and equipment.

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Times of Central Asia