Kazakhstan’s trade turnover with EU countries exceeded $34 billion in 10 months of the year

The Prime Minister noted that today the European Union is the largest trade and investment partner of Kazakhstan. The total volume of European investments exceeded $175 billion. In particular, over 6 months, EU countries invested $5.2 billion in the economy of Kazakhstan.

“The EU’s share in Kazakhstan’s foreign trade is about 30%. Over 10 months, our trade turnover exceeded $34 billion. These figures reflect our consistent course towards increasing trade and economic cooperation,” said Alikhan Smailov.

He added that today more than 3 thousand European companies are successfully operating in various sectors of the economy of the Republic of Kazakhstan, and the trend of expanding the presence of European companies in Kazakhstan is a direct confirmation of the increasing investment attractiveness of the republic.

“It was noted that creating favorable conditions for business and improving the investment climate remain among the priorities of the government of Kazakhstan,” the press service said in a statement.

“We strive to create the most favorable conditions for the influx of high-quality and long-term investments. To achieve this, the regulatory framework and investment support tools are constantly being improved in accordance with the best international standards,” emphasized Alikhan Smailov.

The Prime Minister recalled that Kazakhstan has adopted the Concept of Investment Policy until 2026, taking into account ESG standards. To provide projects with quality infrastructure, a National Infrastructure Plan until 2029 is being developed. As part of the new Tax Code, a service administration model will be introduced.

“For the convenience of investors in obtaining government services and high-quality support for projects, a National Digital Investment Platform is being developed,” noted Alikhan Smailov.


Photo: press service of the Prime Minister of the Republic of Kazakhstan