Kazakhstan and Indonesia Intend to Expand Cooperation in the Field of Investment
Images | Kazakh MFA
The second round of negotiations on the conclusion of an Agreement between the Government of the Republic of Kazakhstan and the Government of the Republic of Indonesia on the promotion and mutual protection of investments took place, press service of the Kazakh MFA reports.
The negotiations were attended by representatives of the Ministries of Foreign Affairs, Justice, Trade and Integration, as well as the Judicial Administration of the Republic of Kazakhstan and JSC NC Kazakh Invest from the Kazakh side. Representatives of the Ministries of Foreign Affairs, Investments and the Financial Services Authority attended the talks from Indonesia.
As a result of the event, the parties managed to reach a conceptual agreement on all key issues of the text of the draft of the above-mentioned Agreement. The next round is scheduled to be held in June 2024 via videoconference.
The parties expressed confidence that the signing of this Agreement in the near future will contribute to the growth of mutual investments and trade and economic ties between Kazakhstan and Indonesia.
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Prospects of Strengthening Cooperation between Kazakhstan and Estonia Discussed in Tallinn
Images | Kazakh MFA
Deputy Minister of Foreign Affairs of Kazakhstan Roman Vassilenko paid a working visit to Tallinn, where he held meetings with Secretary General of the Ministry of Foreign Affairs of Estonia Jonatan Vseviov and Chairman of the Estonia-Kazakhstan friendship group in the Riigikogu (Parliament) Vadim Belobrovtsev, press service of the Kazakh MFA reports.
At the Ministry of Foreign Affairs of Estonia, the parties discussed the prospects for developing Kazakh-Estonian political dialogue, enhancing trade, economic and investment cooperation, as well as interaction within the framework of international organizations. Additionally, the issues related to organization of bilateral visits and facilitating the development of inter-departmental ties, as well as business, cultural and educational exchanges were addressed. The parties exchanged views on pressing issues on the regional and international agenda.
Furthermore, Roman Vassilenko emphasized the importance of the strategic partnership with the European Union with a focus on the effective implementation of the Enhanced Partnership and Cooperation Agreement between Kazakhstan and the EU.
During the meeting with the Estonian deputy, Roman Vassilenko briefed his counterpart on the progress of political and economic reforms in Kazakhstan, particularly on the new electoral system, measures to strengthen parliamentarianism and multi-party system. The parties discussed the opportunities for advancing parliamentary diplomacy and ways to involve parliamentarians further in bilateral cooperation. In this regard, an agreement was reached to elaborate the visit of the Estonian friendship group delegation to Kazakhstan by the end of this year.
During the visit, Roman Vassilenko also participated in the Lennart Meri Conference, where he presented Kazakh approaches to addressing issues on international and regional agenda.
In 2023, the volume of mutual trade between Kazakhstan and Estonia reached 157.5 million US dollars, reflecting a 29% increase (exports of 78.1 million US dollars, imports of 79.4 million US dollars).
As of January 1, 2024, there are 74 companies with Estonian capital operating in Kazakhstan.
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Kazakhstan and Latvia Intensify Efforts to Deepen Economic Partnership
Images | Kazakh MFA
The 9th meeting of the Kazakhstan-Latvia Intergovernmental Commission on Economic, Scientific and Technical Cooperation convened under the chairmanship of Deputy Minister of Foreign Affairs of Kazakhstan Roman Vassilenko and Minister of Welfare of Latvia Uldis Augulis, press service of the Kazakh MFA reports.
Participants included representatives from various sectoral ministries and agencies of both countries. The agenda covered issues such as expanding mutual trade, implementing joint investment projects including in transport and logistics, the agro-industrial complex, digitalization, education, and tourism. The parties expressed satisfaction with the robust growth in bilateral trade turnover between Kazakhstan and Latvia, which reached USD 356.4 million in 2023 (a 63% increase). This positive trend continued in the first quarter of 2024, as mutual trade reached USD 98.5 million, reflecting a 27% increase over the same period of the previous year.
Special attention was given to the impact of the sanctions policy on Kazakhstan’s economy and interaction with foreign partners on this issue.
During the session, the Deputy Minister thoroughly briefed the participants on the results of the socio-economic development of Kazakhstan, preferences for foreign investors, and encouraging Latvian companies to participate in investment projects on the Kazakh market.
Both sides emphasized the key role of the Intergovernmental Commission as a vital instrument in promoting bilateral business cooperation and highlighted the importance of continuing joint efforts to improve the legal framework. The session concluded with the signing of the Commission’s meeting final Protocol.
The day before, Roman Vassilenko also participated in a meeting between Minister of Transport of Kazakhstan Marat Karabayev and Minister of Transport of Latvia Kaspars Briškens. The discussion focused on a complex range of current issues aimed at furthering the development of Kazakh-Latvian relations, including enhancing trade and economic interactions. Specific additional steps were outlined to boost business cooperation, with a focus on implementing promising joint projects in transport and logistics.
During the visit, Roman Vassilenko also met with State Secretary of the Ministry of Foreign Affairs of Latvia Andris Pelšs, Head of the Interparliamentary Co-operation Group Linda Liepiņa and her colleagues, as well as Director of the Latvian Institute of International Affairs (LIIA) Karlis Bukovskis.
At the Ministry of Foreign Affairs of Latvia, the discussions centred on the current and future state of bilateral relations and the collaborative endeavours on international stages. The commitment of Astana and Riga to intensify and deepen their political dialogue and to enhance mutually beneficial cooperation in investment, humanitarian, and other sectors was reaffirmed.
During the talks at the Latvian Saeima, a thorough exchange of views on current bilateral and multilateral agenda items took place. Roman Vassilenko informed the Latvian side about the consistent implementation of President Tokayev’s policy aimed at building a Just and Fair Kazakhstan.
At the meeting with Karlis Bukovskis and researchers of LIIA, mutual interest was expressed in further expanding cooperation along the lines of scientific research institutes of Kazakhstan and Latvia.
The negotiations in Riga, conducted in a consistently cordial and trustful atmosphere, affirmed the commitment of both countries to further enhance their relations.
About 145 Latvian enterprises are registered in Kazakhstan, and approximately 100 Kazakh companies operate in Latvia, engaged in logistics, trade, and financial consulting sectors.
From 2005 to 2023, gross inflow of direct investments from Latvia to Kazakhstan amounted to USD 276.4 million.
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Kazakhstan and Germany interested in implementing new joint projects in agribusiness, mining and metallurgy, energy, transport and logistics
Images | primeminister.kz
The 40th anniversary meeting of the Berlin Eurasian Club was held at the Astana International Financial Centre with the participation of Roman Sklyar, First Deputy Prime Minister of the Republic of Kazakhstan, and Katrina Klaas-Mühlheuser, Chairman of the Board of the Eastern Committee of the German Economy, primeminister.kz reports.
Among the participants of the event were also representatives of the public and private sectors, heads of leading German companies, including CLAAS, CT AGRO GmbH, Knauf International GmbH, Atlas International GmbH and others.
In his welcoming speech, First Deputy Prime Minister noted that Germany is the most important trade, economic and investment partner of Kazakhstan in the European Union. In recent years, our country has entered the list of 50 leading foreign trade partners of Germany, rising by 10 positions at once
An important signal of recognition of high political stability and security of investments in our republic was the inclusion of Kazakhstan by the Federal Government of Germany in the list of 34 states, for cooperation with which there is a favourable procedure for providing investment guarantees," Roman Sklyar said.
In turn, Katrina Klaas-Mühlheuser noted that Kazakhstan is one of the most important partners of Germany in Central Asia. She emphasised that the German delegation arrived in Kazakhstan with the key goal of agreeing on the implementation of specific joint projects in agro-industrial and mining and metallurgical complexes, energy, transport and logistics.
Germany is actively looking for partners abroad and Kazakhstan is a priority area for expanding co-operation. We want to produce products with a high level of added value and plan to contribute to the development of industrial projects in Kazakhstan," Katrina Klaas-Mühlheuser said.
The meeting was also addressed by Rustam Karagoyshin, Chairman of the Board of Baiterek Holding, Michael Harms, Executive Director of the Eastern Committee of the German Economy, Co-Chairman of the Kazakhstan-German Business Council, Hovsep Voskanyan, Head of the Representative Office of the German Economy in Central Asia, Gerlind Heckman, Head of the Department of Foreign Trade, Promotion and Financing of the Federal Ministry of Economy and Climate Protection of the Federal Republic of Germany, and others.
In addition, Roman Sklyar held a meeting with representatives of the German economic delegation, which included heads of 15 German companies. The parties exchanged views, identified key aspects of co-operation and discussed possible ways to deepen partnership in various sectors of the economy.
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