Kazakhstan-EU cooperation reaches new level

Kazakh Foreign Minister Yerlan Idrisov met with the head of the European External Action Service (EEAS) department for Russia, Eastern Partnership, Central Asia Regional Cooperation and OSCE countries Gunnar Wiegand, the Kazakh foreign ministry said Sept. 11.
The issues relating to the eighth round of negotiations on a new agreement on expanded partnership and cooperation between Kazakhstan and the European Union were discussed at the meeting. It was stressed that the sides conducted large-scale operations as part of the negotiation process with good results.
Idrisov emphasized that the new agreement confirms the mutual growing interest in establishing closer, privileged and mutually beneficial cooperation in all spheres. It will create a favorable sphere for the active involvement of the European business and investments in the development of Kazakhstan’s economy, as well as open up new opportunities in various fields.
They also discussed issues of bilateral cooperation, including the liberalization of the visa regime and economic cooperation, Kazakhstan’s accession to the WTO, as well as regional and international agenda.
The EU has been the leading trade and investment partner of Kazakhstan for the last few years. The trade turnover between Kazakhstan and the EU amounted to $53.4 billion in 2013.
The trade volume between Kazakhstan and the EU amounted to $28.4 billion in the first half of 2014, which corresponds to 54.7 percent of the total foreign trade turnover of the country.
Some 49 percent of foreign capital in Kazakhstan’s economy is of European origin. The inflow of direct investments from the EU countries in the Kazakh economy amounted to more than $92.7 billion (out of drawn $189.7 billion) from 1993 to the first quarter of 2014.