Kazakhstan and EU Sign Strategic Partnership Deal

Published on: 08 November 2022
by KnowESG
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Kazakhstan and the European Union have signed a memorandum of understanding and strategic partnership in sustainable raw materials, renewable hydrogen, and battery value chains.

The document was signed by the Prime Minister of Kazakhstan, Alikhan Smailov, and the President of the European Commission, Ursula von der Leyen, at the COP27 Summit in Egypt.

"The document is called to create conditions for establishing financial and technological cooperation of Kazakhstan with the industrial alliances of the EC. In general, Kazakhstan is an attractive country for European business for its diversified energy sources and high transit and transport potential," Alikhan Smailov said.

He also said that the European Union is one of Kazakhstan's largest and most important trade partners, making up 30% of the country's total foreign trade volume.

Ursula von der Leyen, on the other hand, said that the European Union is one of Kazakhstan's biggest investors and that the signed memorandum will help these partnerships grow.

"We are basically opening a new chapter in our already deep relationship. The European Union and Kazakhstan have developed strong economic ties over the years. Together, we will work to better integrate our strategic value chains related to raw materials, batteries, and renewable hydrogen," she said.

"These value chains are very important engines to power the green and digital transitions worldwide," she noted.

Source: KAZINFORM

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