Kazakhstan and EU discuss trade, economic and investment cooperation

A meeting of the Republic of Kazakhstan - European Union Trade Cooperation Committee, held on October 9 this year in the format of a video conference, provided the parties with an opportunity to discuss the implementation of those sections of the Enhanced Partnership and Cooperation Agreement between Kazakhstan and the EU, which cover trade, economic and investment interaction.

The meeting was co-chaired by Vice Minister of Trade and Integration of the Republic of Kazakhstan Kairat Torebayev and Head of the Department for Southern Partnership, the Middle East, Turkey, Russia and Central Asia of the European Commission's Directorate for Trade Timo Hammaren.

The parties expressed satisfaction with the ongoing development of the economic cooperation. Kazakhstan is the main trading partner of the European Union in the region, and the EU is the largest investor and trading partner of Kazakhstan.

To a large extent, this is facilitated by well-established bilateral mechanisms - the Trade Cooperation Committee, the Subcommittee on Customs Cooperation, and the Working Group on Cooperation in the Field of Agriculture. A special place is occupied by the regular meetings of Prime Minister Askar Mamin with European ambassadors and businessmen in Nur-Sultan.

Brussels understands the special importance of economic diversification for Kazakhstan and is open to practical solutions to the issues of exporting our agricultural products to the EU. Having this in mind, the parties discussed items on an extensive agenda related to the export of fish and dairy products, honey and other Kazakhstani goods to the EU countries, as well as the supply of agricultural machinery and cattle from Europe to Kazakhstan.

The European delegation expressed special gratitude to the Kazakh authorities for their solidarity and flexibility in the stay of European specialists in Kazakhstan, their entry and exit during the coronavirus pandemic. The interaction of the customs authorities was highly appreciated, which ensured uninterrupted supplies of goods and cargo during the pandemic.

In general, as the parties noted, a useful exchange of views took place on the further promotion and implementation of the trade, economic and investment agenda between Kazakhstan and the EU in the spirit of the Agreement on Enhanced Partnership and Cooperation, which entered into force on March 1 of this year.