France invests nearly USD 20 bln in Kazakhstan
Kazakh Prime Minister Olzhas Bektenov opened the Kazakhstan-France Investment Forum with the participation of the Minister Delegate for Foreign Trade and French Nationals Abroad of France, Laurent Saint-Martin, Kazinform News Agency reports.
Cooperation between France and Kazakhstan remains one of the key priorities of the country’s foreign policy and an integral part of our partnership within the EU. Our countries established solid comprehensive partnership notable for strong political ties, active intergovernmental and parliamentary dialogue and dynamic trade and investment cooperation, Bektenov said.
According to the organizers, the forum drew the participation of some 300 delegates, representatives of state bodies, akimats, business circles and associations of Kazakhstan and France.
To note, the turnover between the two nations grew by 31% in 2024, reaching a record high of 5.5 billion US dollars. France invested nearly 20 billion US dollars in Kazakhstan. Over 200 companies with French capital operate in Kazakhstan.
The Kazakh PM drew attention to key joint projects, including the construction of a 1 GW wind power plant by Total Energies in the south of Kazakhstan, localization of production and new Alstom investments in the railway sector, the Air Liquide hydrogen economy project at the Pavlodar petrochemical plant, the development of food and dairy industries with the participation of Danone, Lactalis, Lidea, etc.
Kazakhstan is also interested in the development of the Trans-Caspian International Transport Route and cooperation in AI, pharmaceuticals, tourism and water resources management. he noted progress in educational and scientific cooperation, including opening of French schools in Astana and Almaty, Lumière Center and branch of France's University of Lorraine at the Abai Kazakh National Teachers’ Training University.
France ranks among the Top 10 largest trading partners of Kazakhstan and ranks first among the EU countries in the volume of investments. Six joint projects worth 300 million US dollars were developed last year, with over 20 more initiatives underway. We highly appreciate the contribution of French business in the development of Kazakhstan’s economy and are ready to create favorable conditions for investors, Deputy Foreign Minister of Kazakhstan Alibek Kuantyrov said.
In conclusion, the sides signed a package of commercial agreements aimed at the development of joint projects in various economic sectors.
As written before, Kazakhstan-Italy trade turnover nears $20 billion in 2024.
