Central Asia-EU: Towards deepening economic cooperation

Kazakhstan is set to host the second European Union - Central Asia Economic Forum on May 18-19. Issues related to deepening interregional cooperation and advancing the interaction between Central Asian countries and the EU will be on the forum’s agenda in Almaty. In particular, focus will be placed on such priority areas as the transition to a green economy, digital transformation, improvement of the business environment in Central Asian countries, as well as measures to expand trade and transport connectivity.

“The forum will start on May 18, with the first day focusing on B2B format. Companies from both European and Central Asian states will participate, aiming to enhance their business relations, improve the overall business climate, and promote economic dialogue. This economic forum will have a multiplier effect on Kazakhstan. The EU is currently making efforts to strengthen its connectivity with Central Asian countries in order to diversify its economy and explore investment potential. In this regard, Kazakhstan could play a pivotal role by leveraging its transport potential and facilitating increased trade turnover between these countries,” Yerzhan Abish, Spokesperson for the Kazakh Ministry of National Economy, said.

It bears noting that the EU is Kazakhstan’s main trade and investment partner. In 2022, the trade between the parties amounted to about $40 billion, representing a 38 percent increase compared to the previous year. The volume of investments made by European companies in the country reached $12.5 billion in 2022.