Kazakhstan is ready to expand exports to Italy to almost $1 billion - Smailov

Kazakhstan is ready to expand exports to Italy to almost $1 billion - Smailov

ASTANA, Sep 6 - Sputnik. The head of the Kazakh government, Alikhan Smailov, met with Italian Minister of Foreign Affairs and International Cooperation Antonio Tajani, the press service of the government reported.

"The parties discussed topical issues of cooperation in engineering, energy, including the development of renewable sources, as well as in the agro-industrial sector, education and other areas," the report says.

Italy, Alikhan Smailov noted, is one of the three largest trading partners of Kazakhstan in the world and ranks first among the EU countries. According to the Prime Minister, bilateral trade increased by almost 55% last year, reaching about $15 billion.

“Nevertheless, we see significant potential for increasing trade. We are ready to increase the export of Kazakhstani products to Italy in 110 commodity items worth over $900 million,” said Alikhan Smailov.

In addition, Italy is consistently among the top five largest investors from the EU in the economy of Kazakhstan, the head of government added. Over the past 17 years, the influx of Italian investments amounted to $7.3 billion, and at the end of last year it grew by almost 2.5 times and amounted to about $300 million.

Smailov welcomed the opening of a new office of the Italian Embassy in Astana, noting that this will make a significant contribution to building business contacts and will have a positive effect on the development of mutual trade.

Antonio Tajani indicated Italy's readiness to strengthen relations with Kazakhstan in trade, energy, industry and many other areas.

“We are ready to open joint ventures, launch new Kazakh companies in Italy. We would also like to create a business council that would contribute to even stronger cooperation between our enterprises,” he said.

The Italian minister, the government of Kazakhstan added, also expressed interest in expanding the trade presence in Kazakhstan, in particular in the clothing industry. Separately, he noted the importance of opening a new Italian Institute of Culture in Almaty, which will increase the exchange of students between the two countries.