Kazakhstan and EU Discuss Strengthening Economic Ties
Astana hosted the 16th meeting of the Kazakhstan–European Union Dialogue Platform on Critical Raw Materials on Feb. 28, bringing together heads of EU member state diplomatic missions and leading industrial company executives.
The meeting was co-chaired by Kazakh Prime Minister Olzhas Bektenov and the EU Delegation’s Chargé d’Affaires a.i. Johannes Baur.
The European Union remains a key partner for Kazakhstan, having invested over $200 billion in direct investment from 2005 to 2024—nearly half of the country’s total foreign direct investment (FDI), reported the Prime Minister’s press service.
“Today, the European Union stands as Kazakhstan’s largest trade and investment partner, accounting for more than a third of our foreign trade and half of the investments we attract. Last year, mutual trade turnover increased by 17%, reaching nearly $50 billion. We are keen on expanding and diversifying the product range we supply to Europe,” Bektenov said during the meeting.
To boost trade and economic cooperation, Kazakhstan is working on creating a more favorable business climate. The updated Concept of Investment Policy, extending through 2029, aims to launch a new investment cycle and double the country’s GDP.
The government is implementing digital solutions to streamline public administration, reduce bureaucracy, and optimize regulatory processes. Platforms like the National Digital Investment Platform and websites such as minerals.gov.kz and e-qazyna.kz are enhancing the transparency of licensing processes. Efforts to improve the legislative framework focus on promoting raw material processing and the production of high-value finished products.
Bektenov also addressed concerns raised by domestic businesses, particularly challenges with visa procedures that hinder the mobility of Kazakhstan’s entrepreneurs and freight carriers.
“The difficulties in obtaining Schengen visas was raised, especially in countries such as Lithuania, Germany, and Poland. Kazakhstan’s freight carriers face a limited number of slots at visa centers, long waiting times of up to two months, and the issuance of short-term visas of just three months. These challenges significantly complicate their business operations,” he noted.
Both sides expressed their commitment to strengthening economic ties and advancing new joint initiatives.
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