Expansion and strengthening of trade, economic and investment cooperation, and joint projects in transport and logistics with a focus on the development of the Trans-Caspian International Transport Route (TITR), were the key issues of the 15th meeting of ‘Kazakhstan-EU’. Participants in discussions held in Astana on 10 July included Kazakhstan Prime Minister Olzhas Bektenov, head of the Delegation of the European Union to Kazakhstan, Ambassador Kestutis Jankauskas, and heads of diplomatic missions of EU countries in Kazakhstan.
During the meeting it was stated that about 85% of goods exported by China to EU countries are transported through Kazakhstan, and TITR provides the most competitive cargo delivery time of 12-15 days.
Regarding their interest in unlocking the full potential of TITR, also known as the Middle Corridor, participants noted the establishment of the joint venture, Middle Corridor Multimodal, at the Astana International Financial Centre, and the significant role of the European initiative ‘Global Gateway’, which opens new prospects for investment in the transport industry.
To raise their strategic partnership to a new level, all confirmed their commitment to developing and strengthening Kazakhstan-EU trade and economic relations.
According to the Kazakh government, the European Union accounts for over 40% of Kazakhstan’s foreign investments and about 30% of foreign trade.
In 2019-2023, trade turnover between Kazakhstan and EU countries increased by 36.2%, amounting to $41.4 billion. Last year, EU countries invested $10.4 billion in Kazakhstan’s economy, and in the first quarter of 2024 alone, $2.8 billion.
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