Expanding Trade Relations: EU-Kazakhstan Trade Surges by Almost 18% in 2024
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Kazakhstan's Foreign Minister, Roman Vassilenko, hosted an overview briefing for the heads of EU diplomatic missions on January 21, 2025. The focus of the briefing was on deepening Kazakhstan's friendly and mutually beneficial ties with the European Union.
Vassilenko emphasized the importance of facilitating the EU visa regime for Kazakh citizens, aiming to further strengthen the relationship. He also highlighted the strategic role Kazakhstan plays in Eurasian trade, particularly through the expansion of the Trans-Caspian International Transport Corridor (TITR).
In 2024, the trade turnover between Kazakhstan and the European Union reached approximately $48.7 billion, marking a 16.9% increase compared to the previous year. This growth reinforces the EU as Kazakhstan's main trade and investment partner. The TITR strengthens connectivity between Europe and Central Asia, contributing to this significant growth.
Economic cooperation with the EU includes the expansion of trade in goods and services, strategic dialogues and high-level meetings to align policies and foster investment, and collaboration to diversify exports and enhance Kazakhstan’s connectivity to European markets.
While trade with other partners, such as the U.S., increased moderately in 2024, the scale and growth rate with the EU remain significantly higher, underscoring the EU's central role in Kazakhstan's foreign economic strategy.
During the briefing, Vassilenko also touched upon Kazakhstan's relations with Russia, China, and the United States. He expressed confidence in making 2025 even more successful for Kazakhstan's relations with the EU.
As of January-November 2024, exports from Kazakhstan to the European Union totaled $34.6 billion, and imports from the European Union to Kazakhstan totaled $9.6 billion. The trade turnover between Kazakhstan and the European Union for the same period was $44.2 billion.
More than 3,000 companies with European capital are operating in Kazakhstan. Vassilenko highlighted the high dynamics of the political dialogue with the EU during the briefing. The briefing was held for the heads of EU diplomatic missions accredited in Kazakhstan, as reported by the Kazakh Foreign Ministry's press service.
Sources:
[1] Kazakhstan Today. (2025, January 21). Kazakhstan-EU trade turnover reaches $48.7 billion in 2024. Retrieved from www.kazakhstantoday.com
[2] European External Action Service. (2024, June 17). Kazakhstan-EU Cooperation Committee meets in Brussels. Retrieved from eeas.europa.eu
[3] Kazakh Invest. (2025, January 21). European investments in Kazakhstan reach $180 billion. Retrieved from kazakhinvest.gov.kz
[4] Trans-Caspian International Transport Route. (n.d.). Retrieved from tcitr.info
[5] Kazakhstan Ministry of National Economy. (2025, January 21). Kazakhstan's foreign trade in 2024. Retrieved from economy.gov.kz
Business and finance are integral aspects of Kazakhstan's relationship with the European Union, as evidenced by the significant growth in trade turnover between the two, reaching approximately $48.7 billion in 2024. Over 3,000 companies with European capital are currently operating in Kazakhstan, indicating a strong economic cooperation that includes trade in goods and services, and strategic dialogues to align policies and foster investment.
