Kazakhstan urges Italian businesses to expand investment, trade tiesKazakh Prime Minister Olzhas Bektenov called on Italian businesses to expand their presence in Kazakhstan and participate in joint projects during the Italy-Kazakhstan Business Forum on Wednesday."Bilateral trade reached $4.4 billion in the first quarter of this year, reflecting a strong foundation for cooperation. However, the partnership’s full potential remains untapped. We invite Italian businesses to increase their presence in Kazakhstan and actively engage in joint projects in priority sectors," he added.Italian investments in Kazakhstan over the past two decades total $76 billion, spanning oil and gas, renewable energy, machinery manufacturing, and agriculture. Bektenov expressed confidence in further expanding economic ties, noting that the two nations are close to finalizing an agreement on investment promotion and mutual protection. "Creating favorable conditions for foreign partners is a national priority," he said.Kazakh Trade and Integration Minister Arman Shakkaliyev proposed developing sustainable supply chains under a "Made in Kazakhstan with Italy" model, targeting markets in the EU, China, Central Asia, and the Global South. He suggested establishing joint industrial clusters in machinery, petrochemicals, green energy, and agribusiness.Shakkaliyev highlighted agribusiness as a key area for cooperation, with Kazakhstan ready to boost exports of organic grains, oilseeds, and animal feed to Italy. "Joint processing and packaging under a unified brand would enhance global competitiveness," he said. "Implementing these initiatives requires a systematic, interstate approach supported by concrete measures."Trade between Kazakhstan and Italy grew by 24% in 2024, reaching $19.9 billion. Kazakh exports rose 25.8% to $18.7 billion, driven by oil, ferroalloys, aluminum, and agricultural products."Imports from Italy, including machinery, pharmaceuticals, and industrial equipment, totaled $1.3 billion. However, the current trade volumes still fall short of the partnership’s full potential," Shakkaliyev noted. (ICE ALMATY)

Fonte notizia: INTERFAX