The Committee in the trade configuration is an effective dialogue platform for the development of trade relations between Kazakhstan and the EU

On March 10, the 5th meeting of the Cooperation Committee "Republic of Kazakhstan - European Union" in the trade configuration was held in Brussels.

Recall that the Committee in the trade configuration was created in the implementation of the Agreement on Expanded Partnership and Cooperation between Kazakhstan and the EU in order to expand trade, economic and investment cooperation.

The Kazakh delegation was headed by Vice-Minister of Trade and Integration of Kazakhstan Kairat Torebayev, the European delegation - Deputy Head of the Group "Southern Neighbors, Middle East, Turkey, Russia and Central Asia", Directorate General for Trade of the European Commission Timo Hammaren.

Both sides confirmed that the Committee is an effective dialogue platform for discussing approaches and further implementation of strategically important areas of trade and economic cooperation between Kazakhstan and the EU.

During the meeting of the Committee, issues of trade and investment cooperation, the implementation of the Trade Section of the Kazakhstan-EU Enhanced Partnership and Cooperation Agreement, the implementation of the Central Asia Investment Program and Ready4Trade Central Asia projects, sanitary and phytosanitary measures, industrial grants, public procurement, exclusion of Kazakhstan from the gray list, as well as recent WTO events were discussed.

Within the framework of the 5th meeting, meetings of Vice Minister K.Torebayeva with the representative of the European Commission in the Directorate General for Trade, the management of the AWEX Trade and Investment Promotion Agency and the Brussels Chamber of Commerce and Industry.

The EU is one of the key partners of the Republic of Kazakhstan in the field of trade and investment. Today, trade with EU countries accounts for almost a third of Kazakhstan's total trade turnover. At the same time,
38.5% of Kazakhstan's exports account for EU countries.

In 2021, the trade turnover of Kazakhstan and the EU countries increased by 21.4% and amounted to $28.9 billion. Exports amounted to $23.3 billion, imports amounted to $5.7 billion.

In order to maintain the positive dynamics of trade and expand the range of goods and services supplied, Kazakhstan can increase the volume of mutual trade with the EU by increasing exports of about 140 items of various manufacturing products by more than $ 1.5 billion.