Kazakhstan, EU move to practical implementation of joint projects - Tokayev

According to the Head of State, this demonstrates that the partnership between Kazakhstan and the EU is moving from conceptual approaches to real actions.

The President briefed about Kazakhstan’s economic achievements in recent years and the systemic reforms that have led to these results.

He said that Kazakhstan’s economy continues to show resilience and dynamism. Last year, the country’s economic growth reached 6.5%, which is twice the pace of projected global growth according to the IMF. Kazakhstan’s GDP exceeded $305 billion, and per capita GDP hit $15,000. According to IMF forecasts, this year the size of Kazakhstan’s economy will reach $360 billion. Small and medium-sized enterprises currently account for about 40% of our economy, and nearly 70% of capital investment is provided by them.

“These achievements are based on comprehensive structural reforms. Kazakhstan is undergoing a large-scale process of political and economic modernization aimed at creating a more transparent, competitive, and investor-friendly economy. We have strengthened democratic institutions, improved the system of checks and balances, enhanced the rule of law, and expanded human rights protections. Strict adherence to the principle of ‘Law and Order’ has become the cornerstone of our domestic policy. The historic nationwide referendum in Kazakhstan also contributed to creating a modern institutional framework for protecting the rights and interests of investors. The National Digital Investment Platform now operates as a fully integrated ‘one-stop shop’ for investors, while the Investment Council ensures effective resolution of investment-related issues. We are also introducing new incentives, including the Altyn Visa program, which provides extensive tax and migration benefits for international investors. In short, Kazakhstan offers what investors value most - political stability, macroeconomic resilience, an open economy, and a firm commitment to market reforms,” Tokayev stressed.

The Head of State also spoke on promising areas of cooperation.

First, he informed European partners of Kazakhstan’s ambition to become a regional logistics hub connecting Europe with Central Asia, China, the Caucasus, and the Middle East.

“We are investing hugely in infrastructure, including the construction of thousands of kilometers of new railways and the development of the Trans-Caspian International Transport Route. These efforts fit seamlessly into the European Union’s Global Gateway strategy, turning the Middle Corridor into a key and sustainable artery for secure Eurasian connectivity. The modernization of transport infrastructure has already delivered impressive results. Over the past six years, cargo volumes along this route have increased fivefold - from 0.8 million to 4.1 million tons per year. Our goal is to raise its capacity to 10 million tons. This milestone will strengthen our position as a vital transport artery in global logistics. To maintain this dynamics, Kazakhstan has invested more than $35 billion in transport and logistics infrastructure over the past 15 years. Today, the ports of Aktau and Kuryk on the Caspian Sea serve as important gateways for international transit,” the Head of State noted.

The President welcomed agreements signed today worth nearly $1 billion between the Development Bank of Kazakhstan and the European Investment Bank, as well as with a syndicate of banks including Commerzbank, JPMorgan Chase Bank, and Standard Chartered Bank, under MIGA (Multilateral Investment Guarantee Agency) guarantees in the field of logistics infrastructure.