Kazakhstan-EU trade-economic and industrial-innovative coop discussed in Brussels

"Kazakhstan is a strategic partner for the European Union in Central Asian region and plays a key role in building trade-economic cooperation of European countries with the CA as a state possessing huge resource potential and successfully developing national economy", the Vice-President of the European Commission noted.

The European Union is interested in closer cooperation with Kazakhstan, namely in energy, transport and industry. Alongside, interaction in industrial development, implementation of new technologies and innovative approaches will play a key role in efficient development of partnership, G. Verheugen considers.

According to Y. Utembayev, the sides have great prospects in expansion of mutually beneficial cooperation which are not restricted to typical energy projects. The ten-year phase of realization of the Kazakhstan-EU Partnership Strategy defined new parameters and priorities.

Along with participation of the European companies in oil and gas sector of Kazakhstan, both countries have huge potential in joint work in industry, oil and gas infrastructure and petrochemical sector. Today Kazakhstan attracts foreign investments for realization of the projects in nanotechnology, space and nuclear technologies.

The volume of European investment in Kazakhstan amounted EUR 40 bln in 2008, Y. Utembayev noted. Last year Kazakhstan's share on the European market comprised  EUR 9 bln. Under the EU's support this figure can be raised significantly, he added.

The Ambassador also informed that Kazakhstan held active negotiations with the European Investment Bank for defining priority projects for investing EUR 1 bln. Focusing on necessity of consistent stimulation of business circles of the two sides, regular joint work on development of cooperation and coordination while implementing the projects, the Kazakh Diplomat noted expedience of establishment of a Kazakh-European Business Council.

In this view G. Verheugen pointed out necessity of activation of the bilateral dialogue on a wide range of cooperation and expressed support to the abovementioned initiatives.

Touching upon Kazakhstan's accession to the WTO, G. Verheugen noted EU's interest in promotion and all-round assistance in the processes connected with it.

Upon completion of the meeting the sides highly appreciated Kazakhstan's and EU's intentions to activate bilateral relations and establish appropriate structures for raising the cooperation to a higher level.