Mutual trade volume of Kazakhstan and EU shows positive dynamics

The development of bilateral trade and economic relations and interaction between Kazakhstan and the European Union on global platforms. These were the topics that Kazakh Minister of Trade and Integration Bakhyt Sultanov discussed with the EU parliamentarians and representatives of Belgian business. The parties noted that despite the pandemic, the volume of mutual trade of Kazakhstan and the EU grows. Trade turnover has exceeded US$19 billion over eight months of this year, which is 15 percent more than in the same period of 2020.

“Even during the pandemic, cooperation of the EU with Kazakhstan was at a very good level. Kazakhstan, as the chair of the WTO Ministerial Conference, plays an important role in its preparation. We have to talk about reducing fossil fuel subsidies and greater investments in the agricultural sector. We need a clear treaty on trade and mutual assistance to improve vaccination rates around the world. It is also important to discuss the modernization of WTO dispute settlement mechanism in terms of the Paris Climate Agreement. We hope that together we will be able to achieve significant results at this conference,” said Bernd Lange, Chairperson of the European Parliament’s Committee on International Trade.

Also, speakers discussed the goals and objectives of the 12th WTO Ministerial Conference. It will take place in Geneva at the end of November chaired by Kazakhstan.

Translation by Saniya Sakenova

Editing by Galiya Khassenkhanova