Kazakhstan and European Union prepare deals worth $12 billion

Kazakhstan and the European Union have solidified their partnership by signing commercial agreements valued at $12 billion. President Kassym-Jomart Tokayev announced the deals, emphasizing that this marks a transition from conceptual discussions to tangible actions between the two entities. The agreements underscore a deepening relationship aimed at mutual benefit and cooperation.

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Kazakhstan's economy continues to demonstrate resilience and dynamism. Last year, our country's economic growth reached 6.5 percent, which is double the global growth rate projected by the IMF. Our GDP exceeded $305 billion, with a per capita GDP of $15,000. According to IMF forecasts, the country's economy will reach $360 billion this year. Small and medium-sized enterprises now account for about 40 percent of our economy and provide nearly 70 percent of fixed capital investment.

Tokayev highlighted Kazakhstan's robust economic performance, noting a 6.5% growth rate last year, which significantly outpaced the International Monetary Fund's (IMF) global forecast. The nation's GDP surpassed $305 billion, with a per capita GDP of $15,000. Projections indicate the economy will reach $360 billion this year. Small and medium-sized enterprises play a vital role, constituting about 40% of the economy and contributing nearly 70% of fixed capital investment.

These economic achievements are attributed to comprehensive structural reforms and a commitment to modernization. Kazakhstan is actively pursuing political and economic reforms to create a more transparent, competitive, and investor-friendly environment. This includes strengthening democratic institutions, enhancing the rule of law, and expanding human rights protections. The nation has also implemented initiatives like the National Digital Investment Platform and the Investment Council to streamline investment processes and resolve related issues.

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We have strengthened democratic institutions, improved the system of checks and balances, reinforced the rule of law, and expanded the protection of human rights. Strict adherence to the principle of Law and Order has become the cornerstone of our domestic policy. Kazakhstan’s historic nationwide referendum also contributed to the creation of a modern institutional framework for protecting the rights and interests of investors.

President Tokayev affirmed that Kazakhstan offers key advantages for investors: political stability, macroeconomic resilience, an open economy, and a firm commitment to market reforms. The recent agreements follow Tokayev's official visit to Brussels, where he held discussions with European Council President António Costa and European Commission President Ursula von der Leyen. The EU leaders reaffirmed their dedication to deepening cooperation under the Enhanced Partnership and Cooperation Agreement (EPCA) signed in 2015.

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Kazakhstan offers what investors value most: political stability, macroeconomic resilience, an open economy, and a firm commitment to market reforms.