About 30% of Kazakhstan's foreign trade accounts on EU countries - Aset Irgaliyev
Kazakhstan will continue to strengthen trade and economic relations with the countries of the European Union (EU), said Aset Irgaliyev, the Chairman of the Agency for Strategic Planning and Reforms of Kazakhstan.
"It is important for Kazakhstan to further strengthen ties with the European Union, including in light of new geopolitical realities. According to data for 2021, the EU accounts for almost 30% of Kazakhstan's foreign trade and more than $ 160 billion of accumulated direct investment since 1993," said Mr. Irgaliyev during the European Development Days in Brussels.
He mentioned that more than 4.5 thousand enterprises with European capital are operating in Kazakhstan.
The speaker also suggested considering potential transit hubs in Kazakhstan, which could become part of the "connectivity" in the region. He noted that by 2025, Kazakhstan will invest up to $20 billion to create new land corridors across the country.
"Kazakhstan has the most developed and attractive multi-vector transport system in Central Asia. We are ready to connect our transit routes with the TEN-T (Trans-European Transport Network) to integrate land trade between the East and the West," said Mr. Irgaliyev.
The Trans-Caspian International Transport Route (TITM), known as the Middle Corridor, is no less relevant. Earlier Kazakhstan, Georgia, Azerbaijan, and Turkey signed a quadripartite statement on the development of the Middle Corridor. The agreement provides for the development of the transit potential of the countries along the corridor.
Increasing cargo flows along the route of the Middle Corridor, a container hub will be created based on the port of Aktau with the involvement of the world's leading operators (Cosco, Maersk, CMA CGM, etc.). In addition, a digital infrastructure of the transport corridor is being created, using unified IT solutions for supply chain management.
"We believe that the Trans-Caspian corridor could complement the Trans-Siberian route and the Baltic ports, where the key commodity flows of Kazakhstan have been formed. We are looking forward to expanding trade, business, and logistical relations between Asia and Europe," concluded Irgaliyev.
The Agency for Strategic Planning and Reforms of Kazakhstan manages leadership in strategic planning, state statistics, and reforms. The Agency directly reports to the President of the Republic of Kazakhstan.
The European Development Days forum is the leading forum of the region on the international partnership since 2006. The event is organized by the European Commission. The Global Gateway strategy, launched by European Commission President Ursula von der Leyen in December 2021, is the EU's contribution to narrowing the global investment gap, supporting global economic recovery, and accompanying the dual green and digital transition beyond European borders.