The Kazakh-Italian discussion board, “KAZAKHSTAN – ITALY: Trade and Investment Opportunities on the Way to Kazakhstan,” has commenced in Milan. The occasion was attended by the Minister of Commerce 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 activities of the Republic of Kazakhstan, Yerzhan Yerkinbayev; in addition to high-ranking Italian officers, together with the President of the Senate of the Italian Republic, Ignazio La Russa; the President of the Lombardy area, Attilio Fontana; the Minister of Tourism, Daniela Santanke; the Vice Minister for “Made in Italy,” Valentino Valentini; the Regional Minister of Financial Growth, Guido Guidesi; Marco Osnato, President of the Finance Fee of the Republic of Italy; Senator Giulio Terzi di Sant’Agata, President of the European Union Coverage Fee of the Republic of Italy; and Licia Ronzulli, Vice President of the Senate.
The discussion board continues to construct on the initiatives set forth by the President of Kazakhstan, Kassym-Jomart Tokayev, following his official go to to Italy in January 2024, which marked a big step in strengthening Kazakh-Italian relations. The principle matters mentioned included renewable power, the agro-industrial advanced, tourism, prescription drugs, and technological improvements, highlighting Kazakhstan’s strategic function in financial cooperation between Europe and Central Asia.
Minister of Commerce Arman Shakkaliyev famous that Italy is one in all Kazakhstan’s key buying and selling companions within the European Union, rating among the many prime three by way of commerce turnover. As a part of the efforts to reinforce cooperation, Kazakhstan proposed the introduction of the “Made with Italy” idea, which goals to advertise merchandise manufactured by means of joint ventures involving Italian corporations, thereby strengthening their place in worldwide markets.
Valentino Valentini, Vice Minister for “Made in Italy,” expressed assist for the initiative, emphasizing that joint initiatives would stimulate the expansion of small and medium-sized companies in each nations. Discussions on the discussion board additionally coated tourism prospects, with Italian Minister of Tourism Daniela Santanke highlighting the numerous potential for elevated vacationer change, facilitated by the launch of direct flights between Astana and Milan.
A key element of the initiative would be the institution of centres of excellence for the transition to European high quality requirements, guaranteeing the speedy entry of Kazakh merchandise into the EU. In Italy, will probably be essential to subject certificates of equivalence for merchandise to adjust to EU rules.
Particular consideration was given to the primary commerce and financial mission of Kazakhstani corporations to Italy, launched in the course of the discussion board. Greater than 50 Kazakhstani enterprises from sectors similar to agriculture, oilfield companies, the textile business, tourism, and IT participated. Zhenis Osserbai, Basic Director of QazTrade JSC, highlighted that the mission creates glorious situations for growing new partnerships and implementing promising initiatives.
The discussion board featured displays by representatives from main corporations similar to Maire Group, Ansaldo Energia, Filiera Italia, Confindustria Kazakhstan, and others. The principle purpose of the discussion board was to determine a platform for dialogue and change of concepts between the federal government and enterprise sectors of the 2 nations, fostering mutual commerce and funding cooperation.
The commerce mission will proceed with a collection of B2B conferences and participation in exhibitions geared toward strengthening financial ties and exploring new alternatives for collaboration between Kazakhstan and Italy.
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In 2023, commerce turnover between Kazakhstan and Italy reached $16.1 billion, a rise of seven.8%. Exports from Kazakhstan amounted to $14.8 billion, whereas imports totalled $1.2 billion. Within the first eight months of 2024, commerce turnover surged by 33% to $13.8 billion, with Kazakh exports rising by 36% ($12.9 billion). Key development drivers included crude oil (+38.1%), coal (up 309.5 instances), flax seeds (+$4.1 million), and propylene polymers (up 71.6 instances).
The discussion board additionally included a rustic presentation by the Confindustria Kazakhstan Affiliation, bringing collectively representatives from corporations in each nations to debate alternatives for additional cooperation. The financial diplomacy efforts by the Affiliation purpose to increase industrial and funding alternatives in sectors similar to power, prescription drugs, agri-food manufacturing, and business.
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