Kazakhstan is ready to expand exports to Italy in 110 commodities worth more than $900 million, according to Prime Minister Alikhan Smailov. The statement was made during a meeting on 6 September with Antonio Tajani, the Italian Vice-President of the Council of Ministers and Minister for Foreign Affairs and International Cooperation, who is on an official visit to Kazakhstan, the Prime Minister’s press service reported.
According to the Astana Times, Smailov noted that Italy is one of Kazakhstan’s top three global trading partners and is the leader among European Union (EU) countries.
Citing a 55% increase in bilateral trade, which reached about $15 billion last year, the Prime Minister underlined the significant potential for further growth of trade between the two countries.
Smailov also noted that Italy is consistently among the top five EU investors in the Kazakh economy, having invested $7.3 billion over the past 17 years. Last year, Italian investment almost doubled, increasing 2.5 times to around $300 million.
Smailov highlighted the presence of some 270 companies with Italian capital registered in Kazakhstan. He also highlighted new joint ventures that enhance investment cooperation and expressed interest in expanding these efforts.
They also acknowledged the successful implementation of important investment projects in Kazakhstan involving Italian companies, including a wind farm in the Aktobe region and the production of tractors and combines in the Kostanai region.