“Kazakhstan has the advantage of being the largest of the five Central Asian states with a growing economy” - Vice-President Schinas

Vice-President of the European Commission, Margaritis Schinas, expressed optimism about the growing collaboration, particularly emphasizing the promising prospects with Kazakhstan, Kazinform reported. The two-day Investor Forum on transport connectivity between Central Asia and the European Union concluded on January 30, in Brussels, marking a significant step towards fostering a robust partnership between the EU and Central Asia. 

Speaking at the closing ceremony of the Global Gateway Investor Forum, Schinas stressed the importance of establishing an ambitious and mutually beneficial partnership between the European Union and Central Asia. He highlighted the honor of closing the inaugural Global Gateway Investor Forum in Central Asia, dedicated to advancing transport connectivity, and expressed eagerness to continue developing the partnership.

The event aimed to facilitate collaboration among governments, investors, and national/international institutions. Schinas acknowledged the necessity of research, investment, and funding for the transformative ideas discussed during the forum. He expressed satisfaction with the active participation of partners and highlighted the promising implications for future projects and initiatives.

"All these great ideas require research, investment, money. The purpose of this event is to bring together the government, investors, national and international institutions. We are glad that our partners actively participated in this event. This has promising implications," Schinas voiced.

Schinas underscored the increasing global importance of Central Asia, portraying the region as a center of stability, security, and growth in an otherwise unstable world. He commended Kazakhstan, the largest of the five Central Asian states, for its growing economy and significant prospects for partnership with the European Union.

"Kazakhstan has the advantage of being the largest of the five Central Asian states with a growing economy with great prospects. We have significant prospects for mutual partnership between the EU and Kazakhstan,” concluded Schinas.

During an interview in Uzbekistan with Daryo, Vice-President Schinas commended Central Asia for consistent positive changes, branding it as a beacon of stability and reform. In a world grappling with darkness and instability, Schinas expressed the European Union's keen interest in actively participating in this positive transformation and serving as a catalyst for progress across all five countries in the region.

"Central Asia offers an area of stability, I would say, and reform. And for us in the European Union, this is a wonderful thing to see. And we want to engage," Vice-President Schinas stated.

Addressing the evolving dynamics among Central Asian nations, Schinas noted a clear convergence across the policy spectrum. The countries, he observed, recognize the benefits of coordination and cooperation, particularly in areas such as border delimitation, resource management, climate change, and connectivity. This growing unity among Central Asian nations, Schinas emphasized, enhances the effectiveness of the EU's engagement with the region.

At the opening of the Global Gateway Investors Forum for EU-Central Asia Transport Connectivity, Valdis Dombrovskis, Executive Vice President of the European Commission, announced that European and international financial institutions present at the event would allocate €10bn to support and invest in sustainable transport links in Central Asia. The forum, which focuses on enhancing transport connections between the European Union and Central Asia, commenced in Brussels on January 29. 

Kazakhstan and EU

On January 16, Prime Minister Alikhan Smailov of Kazakhstan and Vice President Schinas discussed enhancing trade turnover, attracting investments, strengthening collaboration in transport and logistics, easing visa regulations, and fostering industrial cooperation, among other topics.

The Prime Minister highlighted that the European Union (EU) stands as one of Kazakhstan's major trade and investment allies, constituting approximately 30% of foreign trade and around 40% of attracted investments. Notably, the trade turnover increased by nearly 5% in the last 11 months, reaching approximately $38bn. In 2022, EU investments in Kazakhstan peaked at $12.5bn, marking the highest level in the past decade.

Prime Minister Smailov pointed out that Kazakhstan currently hosts almost 6,000 joint ventures, with 130 new collaborations established in the previous year alone. These statistics underscore the stability and attractiveness of Kazakhstan's economy for European partners. The Prime Minister urged the European investment community to broaden its involvement in joint projects, emphasizing the conducive environment for collaboration.

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