Bringing trade and economic partnership to a new level is the key goal of the Kazakh-Romanian IGC

October 7, 2022, Astana - The 16th meeting of the Kazakh-Romanian Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation took place today.

Co-chairman from the Kazakh side is the Minister of Energy Bolat Akchulakov, from the Romanian side is the Minister of Energy Virgil Popescu.  The agenda of the meeting included a wide range of issues aimed at further deepening the partnership in trade, economic and investment spheres, education and science.

Minister of Energy of Kazakhstan B.Akchulakov emphasized that "the main vectors of promising development of trade and economic cooperation are energy, transport, logistics, light industry, also there is a positive dynamics of relations in the cultural and humanitarian sphere. At the same time, the Minister noted that the ongoing negotiations and agreements are an important step towards the establishment of close Kazakh-Romanian cooperation.

For his part, Romanian Minister of Energy V. Popescu stressed that "the parties agreed to intensify bilateral and trade relations between the countries in a number of important areas. The minister confirmed Bucharest is ready to expand cooperation by encouraging mutual participation in joint projects and involving companies in business forums.

It is important to note that the high level of Romania's intention to intensify cooperation across the entire spectrum of relations is confirmed by the representative composition of the delegation, which consisted of a wide range of leaders of ministries and entrepreneurs. In particular, the delegation also included the Minister of Labor and Solidarity Protection M. Buday, State Secretaries of the Ministries of Entrepreneurship and Tourism, Transport and Infrastructure, Energy, representatives of "EximBank". In order to discuss promising areas for the Romanian delegation, bilateral meetings were organized with the leadership of the Ministries of Energy, Industry and Infrastructural Development, Culture and Sport, Labor and Social Protection of Population, JSC "NC "Kazakh Tourism" and JSC "Kazakh Invest".

 

 

 

At the end of the event, the parties signed the Protocol of the 16th meeting of the Kazakh-Romanian Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation.

According to the document, an important item on the bilateral agenda is the solution of transport and logistics issues. Thus, agreements were reached on the creation of a Joint Working Commission on international cargo transportation, as well as the intention to link the ports of Aktau and Constanta, located on the TRACECA trade routes and the Trans-Caspian International Transport Route (TITM).

Reference: During the first seven months of 2022, the volume of freight traffic between Kazakhstan and Romania has increased by 40%, amounting to 150.3 thousand tons.

In addition, parties discussed issues of increasing the supply of Kazakh oil to Romania for the needs of oil refineries. Such large Romanian companies as Conpet SA, Inspet SA, Oil Terminal SA participated in the negotiations.

Innovations and technologies were identified as priority areas. In particular, the results of the negotiations showed the readiness of the parties to create joint projects in the field of green technology.  The parties also discussed the possibility of the earliest possible opening of direct flights between the capitals, the opening of mutual tours to increase tourist flows.

At the same time, the Kazakh-Romanian business forum with the support of Kazakhinvest was held within the framework of the IGC with the participation of major entrepreneurs of the two countries. In particular, fruitful B2B meetings were held, as a result of which an agreement was reached to implement joint projects in the field of energy, tourism, transport and agriculture.