Kazakhstan Mulls Increased Trade Cooperation With Italy
Prime Minister Bektenov opened a bilateral business forum ahead of Meloni’s official visit
Kazakhstan’s bilateral trade with Italy reached $4.4 billion in the first quarter of this year, continuing a trend that made Italy the key trade partner in 2024. Prime Minister Olzhas Bektenov focused on these numbers during his speech opening the Italy-Kazakhstan Supply Chain Forum in Astana on May 28.
Around 92% of the $20 billion trade turnover between the two countries in 2024 was made of Kazakhstan ’s oil exports to Italy – a statistic that has proven controversial, given that Italy is not the final destination for Kazakh crude.
“We believe there is a huge potential for Kazakh-Italian collaboration in creating diversified, innovation-driven partnerships,” Bektenov said in English during his speech.
The business forum was held on the eve of Italian Prime Minister Giorgia Meloni’s first official visit to Kazakhstan. During her visit, Meloni will also attend the first 1+5 summit, together with other Central Asian heads of state.
During his speech, Kazakhstan’s prime minister said that Italy’s commitment in Kazakhstan could seize untapped opportunities.
“Our ambition is to build next-generation supply chains, launch joint ventures, and promote technology transfer and local production,” Bektenov said.
On the same day, Bektenov also gave a speech at a Kazakhstan-France business forum and repeated the government’s wishes for a diversified economy, calling on foreign partners to invest in renewable energy and key infrastructure.
“We are actively pursuing major reforms aimed at diversifying our economy, developing green energy, and modernizing infrastructure,” Bektenov said.
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