Kazakhstan, Romania to establish working group for investment support

Kazakhstan, Romania to establish working group for investment support

Kazakhstan and Romania are set to establish a working group to support investments in the energy sector. This group will focus on developing mechanisms to further promote bilateral cooperation. It bears noting that several Romanian companies have expressed interest in partnering with Kazakhstan in supplying equipment and components for the oil and gas sector. Additionally, the two countries have agreed to further discuss cooperation in the chemical and metallurgical industries. There are plans to encourage companies from both states participating in auctions for renewable energy projects in Kazakhstan and Romania. According to statistics, the trade turnover between the two countries in 2023 reached around $3 billion, marking an 8.5 percent increase compared to the same period in 2022. Exports surged by 10 percent, amounting to $2.8 billion. It should be noted that Romania hosts a total of 49 companies with Kazakh capital, operating in various sectors such as energy, trade, furniture manufacturing, clothing and footwear, and pharmaceuticals. In turn, there are 28 joint Kazakh-Romanian enterprises registered in Kazakhstan and mainly operating in the oil and gas sector.