European companies are implementing 24 large-scale investment projects in Kazakhstan

During a meeting with ambassadors from the European Union member states and the EU delegation in Astana, Foreign Minister Beibit Atamkulov noted that fulfilling the full cooperation potential between Kazakhstan and the EU requires concerted efforts from both the Kazakh Foreign Ministry and the European diplomatic missions in Kazakhstan, reports the press service of Kazakh MFA.

The meeting considered a wide range of topics regarding Kazakh-European cooperation, including the prospects for deepening political, economic and trade partnerships.

Special emphasis was given to the effective implementation of the Enhanced Partnership and Cooperation Agreement (EPCA) between Kazakhstan and the EU and its member states, which is expected to fully enter into force in the near future. The meeting participants agreed that the EPCA would open new horizons of cooperation across the 29 areas specified in the agreement.

Given the Foreign Ministry's role in attracting investment into Kazakhstan and promoting Kazakh exports abroad, the further expansion and diversification of trade and economic relations were the main issues on the agenda. The EU has already been Kazakhstan's largest trade and investment partner for many years. Over the first 11 months of 2018, trade amounted to $34.4 billion, while foreign direct investment from the EU countries attracted to Kazakhstan's economy in the first half of 2018 totalled $12.3 billion. In Kazakhstan today, European companies are engaged in the implementation of 24 large-scale investment projects, worth around $3 billion.

"Today, Kazakhstan has set itself the goal of becoming one of the 30 most developed countries in the world. To do so, we need comprehensive measures aimed at modernising the country's economy, therefore investment and export are important", - noted Atamkulov.