The Kazakh-Italian forum, “KAZAKHSTAN – ITALY: Trade and Investment Opportunities on the Way to Kazakhstan,” has commenced in Milan. The event was attended by the Minister of Trade and Integration of the Republic of Kazakhstan, Arman Shakkaliyev; the Ambassador Extraordinary and Plenipotentiary of Kazakhstan to Italy, Yerbolat Sembayev; the Vice Minister of Tourism and Sports of the Republic of Kazakhstan, Yerzhan Yerkinbayev; as well as high-ranking Italian officials, including the President of the Senate of the Italian Republic, Ignazio La Russa; the President of the Lombardy region, Attilio Fontana; the Minister of Tourism, Daniela Santanke; the Vice Minister for “Made in Italy,” Valentino Valentini; the Regional Minister of Economic Development, Guido Guidesi; Marco Osnato, President of the Finance Commission of the Republic of Italy; Senator Giulio Terzi di Sant’Agata, President of the European Union Policy Commission of the Republic of Italy; and Licia Ronzulli, Vice President of the Senate.
The forum continues to build on the initiatives set forth by the President of Kazakhstan, Kassym-Jomart Tokayev, following his official visit to Italy in January 2024, which marked a significant step in strengthening Kazakh-Italian relations. The main topics discussed included renewable energy, the agro-industrial complex, tourism, pharmaceuticals, and technological innovations, highlighting Kazakhstan’s strategic role in economic cooperation between Europe and Central Asia.
Minister of Trade Arman Shakkaliyev noted that Italy is one of Kazakhstan’s key trading partners in the European Union, ranking among the top three in terms of trade turnover. As part of the efforts to enhance cooperation, Kazakhstan proposed the introduction of the “Made with Italy” concept, which aims to promote products manufactured through joint ventures involving Italian companies, thereby strengthening their position in international markets.
Valentino Valentini, Vice Minister for “Made in Italy,” expressed support for the initiative, emphasizing that joint projects would stimulate the growth of small and medium-sized businesses in both countries. Discussions at the forum also covered tourism prospects, with Italian Minister of Tourism Daniela Santanke highlighting the significant potential for increased tourist exchange, facilitated by the launch of direct flights between Astana and Milan.
A key component of the initiative will be the establishment of centres of excellence for the transition to European quality standards, ensuring the rapid entry of Kazakh products into the EU. In Italy, it will be necessary to issue certificates of equivalence for products to comply with EU regulations.
Special attention was given to the first trade and economic mission of Kazakhstani companies to Italy, launched during the forum. More than 50 Kazakhstani enterprises from sectors such as agriculture, oilfield services, the textile industry, tourism, and IT participated. Zhenis Osserbai, General Director of QazTrade JSC, highlighted that the mission creates excellent conditions for developing new partnerships and implementing promising projects.
The forum featured presentations by representatives from leading companies such as Maire Group, Ansaldo Energia, Filiera Italia, Confindustria Kazakhstan, and others. The main aim of the forum was to establish a platform for dialogue and exchange of ideas between the government and business sectors of the two countries, fostering mutual trade and investment cooperation.
The trade mission will continue with a series of B2B meetings and participation in exhibitions aimed at strengthening economic ties and exploring new opportunities for collaboration between Kazakhstan and Italy.
For reference:
In 2023, trade turnover between Kazakhstan and Italy reached $16.1 billion, an increase of 7.8%. Exports from Kazakhstan amounted to $14.8 billion, while imports totalled $1.2 billion. In the first eight months of 2024, trade turnover surged by 33% to $13.8 billion, with Kazakh exports rising by 36% ($12.9 billion). Key growth drivers included crude oil (+38.1%), coal (up 309.5 times), flax seeds (+$4.1 million), and propylene polymers (up 71.6 times).
The forum also included a country presentation by the Confindustria Kazakhstan Association, bringing together representatives from companies in both countries to discuss opportunities for further cooperation. The economic diplomacy efforts by the Association aim to expand commercial and investment opportunities in sectors such as energy, pharmaceuticals, agri-food production, and industry.
.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Economy Compare journalist was involved in the writing and production of this article.