Following the Kazakh-Italian forum, “Kazakhstan–Italy: Trade and Investment Opportunities on the Way to Kazakhstan,” on October 8 in Milan, the Kazakh Ministry of Trade and Integration reported that discussions had focused on renewable energy, the agro-industrial sector, tourism, pharmaceuticals, and technological innovations, with an emphasis on Kazakhstan’s strategic importance in economic cooperation between Europe and Central Asia.
The event came in the wake of Kazakhstan’s President Kassym-Jomart Tokayev official visit to Italy in January 2024, which marked a significant step in strengthening Kazakh-Italian relations.
The Minister of Trade and Integration of Kazakhstan Arman Shakkaliyev noted that Italy is one of Kazakhstan’s key trading partners in the European Union with one of the three largest trade turnovers, and proposed the introduction of “Made with Italy”; a concept aimed to promote products created in collaboration with Italian companies.
Valentino Valentini, Deputy Minister at the Italian Ministry of Enterprise and Made in Italy supported the notion and stressed that joint projects would stimulate the development of small and medium-sized businesses in both countries.
Essential to the initiative, would be the creation of centers of excellence for the transition to European quality standards in Kazakhstan. To ensure the rapid entry of Kazakh products into the EU and Italian markets, such centers would issue certificates of equivalence of manufactured products to EU regulations.
The forum also discussed prospects in the tourism sector, with Italian Minister of Tourism Daniela Santanke noting the significant potential for the growth of tourist exchange, facilitated by the launch of direct flights between Astana and Milan.
The forum launched Kazakh companies’ first trade and economic mission to Italy, involving over 50 enterprises representing agriculture, oilfield services, textile industry, tourism, and IT sectors.
According to Kazakh statistics, in 2023, the trade turnover between Kazakhstan and Italy amounted to $16.1 billion, an increase of 7.8% since the previous year, with exports from Kazakhstan reaching $14.8 billion. In January-August 2024, bilateral trade increased by 33% to $13.8 billion, with Kazakh exports rising by 36% to $12.9 billion. Kazakhstan’s main exports to Italy comprise crude oil (+38.1%), coal (309-fold increase), flax seeds ($4.1 million increase), and propylene polymers (71-fold increase).
