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Italian business invested nearly USD7 billion in Kazakhstan's economy

The foreign trade turnover of Kazakhstan with Italy for 8 months of 2019 amounted to USD 6.7 billion. That was announced by the Ambassador-at-Large of the Ministry of Foreign Affairs Yerlan Khairov during the Italian-Kazakhstan Business Forum, a correspondent of Business Information Center of Kapital.kz reports.

“We have different areas of cooperation, this includes trade, renewable energy as well as digitalization, agriculture”, Yerlan Khairov said, adding that currently about 400 Italian companies are registered in Kazakhstan, 275 of which are active.

“In addition, the Italian business invested USD6.6 billion in Kazakhstan’s economy this year. Thus, the growth of investments amounted to 15% compared to the last year”, added Erlan Khairov.

Manlio Di Stefano, the Deputy Minister of Foreign Affairs of the Italian Republic noted that Italy is today the first European and third largest partner of Kazakhstan after Russia.

“In 2019, exports from Kazakhstan to Italy amounted to USD 2.5 billion. Italian exports to Kazakhstan amounted to just over one billion USD. In general, in the first half of this year, Italian exports to Central Asia by 65%. Kazakhstan has the most competitive companies, not only in the energy sector, but also in agriculture, renewable energy as well as the aerospace sector. Soon we intend to send our cosmonaut from here (Baikonur Cosmodrome). Additionally, we are witnessing a growing tourist flow from Kazakhstan”, said Manlio Di Stefano.