Kazakhstan and Italy Strengthen Trade and Economic Relations

Milan, October 7, 2024 – A three-day business forum titled “Kazakhstan-Italian Trade and Investment Opportunities on the Path to Kazakhstan” has opened in Milan. The forum, organised by the Italo-Kazakh Trade Association, the Embassy of Kazakhstan in Italy, and “QazTrade” Trade Policy Development Centre JSC, features participants from major Kazakh and Italian companies in strategic sectors such as energy, mining, metallurgy, financial services, light industry, tourism, infrastructure, logistics, agriculture, pharmaceuticals, and technological innovation.

The forum is being held in response to the instructions given by Kazakh President Kassym-Jomart Tokayev, following his official visit to Italy in January. The event provides a unique platform for experience sharing and partnership building between businesses from both countries.

High-level representatives from the Italian government and parliament delivered speeches at the forum, including President of the Senate Ignazio La Russa, Chairman of the EU Policy Commission Senator Giulio Terzi di Sant’Agata, Minister of Tourism Daniela Santanché, President of the Lombardy Region Attilio Fontana, Chairman of the Finance Commission Marco Osnato, and Deputy Minister for Entrepreneurship and “Made in Italy” Valentino Valentini.

Kazakhstan was represented by a trade and economic delegation led by the Minister of Trade and Integration, Arman Shakkaliyev. The delegation also included Vice Minister of Tourism and Sports Yerzhan Yerkinbayev, QazTrade General Director Zhenis Oserbai, and others.

Kazakhstan's Ambassador to Italy, Yerbolat Sembayev, noted in his opening remarks that the current Kazakh-Italian relations are marked by significant activity, as evidenced by President Tokayev’s visit to Italy earlier this year, as well as other visits by government officials, national company leaders, and business representatives.

“Today, new opportunities are emerging for Italian businesses to engage in Kazakhstan’s economy and contribute to the development of bilateral business relations. Despite global instability, Italy remains one of Kazakhstan’s strategic trading partners. The total mutual trade turnover between our countries reached $16 billion last year, the highest figure in the last nine years,” emphasized Ambassador Sembayev.

In his plenary session remarks, Minister Shakkaliyev noted the growing momentum in trade and economic relations between the two countries.

“Italy has traditionally been one of Kazakhstan’s main trading partners within the EU and ranks among the top three in trade volume. To further increase bilateral trade, we proposed to our Italian partners the development of a unified ‘Made in Kazakhstan with Italy’ concept. This concept aims to promote all products manufactured by joint ventures involving Italian companies,” said Shakkaliyev.

In turn, the Italian speakers highlighted the high potential for bilateral cooperation. Senate President La Russa emphasized that Italy is strongly committed to developing cooperation with Kazakhstan, and today’s business forum reaffirms the high level of bilateral relations.

“This forum provides an opportunity to revisit the development of relations between Kazakhstan and Italy, a topic I recently discussed in Rome with Maulen Ashimbayev, Chairman of Kazakhstan’s Senate. Italy’s interest in Kazakhstan, which today serves as a bridge between Europe and Asia, is significant and is reflected in our active cooperation in industry and trade,” La Russa stated.

Italian Minister of Tourism Daniela Santanché emphasized the importance of developing tourism cooperation between Kazakhstan and Italy.

“The tourism sector undoubtedly holds great potential in Kazakhstan-Italy relations. We are ready to share our experience and expertise to create strategic synergies that can foster development for both countries. The people of Kazakhstan are drawn to our tourism potential, which is rooted in our strengths in art, culture, gastronomy, and fashion. We are working to strengthen this partnership, including through the activities of 'Eni' and with the support of Kazakh tour operators,” she said.

In the second part of the forum, discussions on expanding trade and economic relations continued, with participation from leaders of companies such as Maire Group, Ansaldo Energia, Neos, ASTOI, Filiera Italia, Confindustria Accessori Moda, Seingim, RossoEvolution, Confindustria Kazakhstan, the Export Insurance Company, Kazakhstan’s Export Credit Agency, Nazarbayev University, and others.

At the end of the first day, several cooperation agreements aimed at strengthening trade and investment ties between Kazakhstan and Italy were signed.