Commodity turnover between Kazakhstan and Italy grew to US$9.5 billion in 2021. At the same time, foreign direct investments from Italy to our country amounted to approximately US$123 million and the countries intend to increase them. This became known as a result of negotiations between Deputy Prime Minister and Minister of Foreign Affairs of Kazakhstan Mukhtar Tleuberdi and Italian political and business leaders. 200 Italian companies already work in oil and gas sector, construction, as well as infrastructure and energy development. European entrepreneurs expressed their interest in the implementation of joint projects in food and manufacturing industries, transport and logistics, agriculture, mechanical engineering and green energy.
“The sphere of Italian companies that have already invested in projects in Kazakhstan were of particular interest. It caused a great zest among companies that faced some difficulties related to the geopolitical situation, and which intend to transfer their business from Russia to other countries. We discussed the ways for our further cooperation with them and submitted for their consideration the privileges and benefits we can provide them with as part of our investment climate,” said Mukhtar Tleuberdi, Deputy Prime Minister of Kazakhstan, Kazakh Foreign Minister.
“Sanctions, they affect the economy and they have effect also on Italian companies and we are trying to sustain as the Italian government, as Italian trade agency, to support them, to find new opportunities in other market, it means there is opportunity to export or to invest in Kazakhstan,” opined Roberto Luongo, Managing Director, the Italian Trade Agency.
Another significant step in the development of bilateral cooperation is the launch of direct flights between Kazakhstan and Italy. Starting June 12, a regular flight between Milan and Almaty will start operating. Experts note that the flights will further stimulate tourism sphere in the post-pandemic period.
Editing by Galiya Khassenkhanova