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 subjects mentioned included renewable power, the agro-industrial complicated, 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 considered one of 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 way of joint ventures involving Italian corporations, thereby strengthening their place in worldwide markets.
Valentino Valentini, Vice Minister for “Made in Italy,” expressed help for the initiative, emphasizing that joint initiatives would stimulate the expansion of small and medium-sized companies in each international locations. Discussions on the discussion board additionally lined tourism prospects, with Italian Minister of Tourism Daniela Santanke highlighting the numerous potential for elevated vacationer trade, 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 fast entry of Kazakh merchandise into the EU. In Italy, it is going to be essential to challenge certificates of equivalence for merchandise to adjust to EU laws.
Particular consideration was given to the primary commerce and financial mission of Kazakhstani corporations to Italy, launched through the discussion board. Greater than 50 Kazakhstani enterprises from sectors resembling agriculture, oilfield companies, the textile trade, tourism, and IT participated. Zhenis Osserbai, Normal Director of QazTrade JSC, highlighted that the mission creates wonderful situations for creating new partnerships and implementing promising initiatives.
The discussion board featured shows by representatives from main corporations resembling Maire Group, Ansaldo Energia, Filiera Italia, Confindustria Kazakhstan, and others. The principle goal of the discussion board was to determine a platform for dialogue and trade of concepts between the federal government and enterprise sectors of the 2 international locations, fostering mutual commerce and funding cooperation.
The commerce mission will proceed with a sequence of B2B conferences and participation in exhibitions aimed 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 progress drivers included crude oil (+38.1%), coal (up 309.5 occasions), flax seeds (+$4.1 million), and propylene polymers (up 71.6 occasions).
The discussion board additionally included a rustic presentation by the Confindustria Kazakhstan Affiliation, bringing collectively representatives from corporations in each international locations to debate alternatives for additional cooperation. The financial diplomacy efforts by the Affiliation goal to increase industrial and funding alternatives in sectors resembling power, prescription drugs, agri-food manufacturing, and trade.
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