Kazakhstan and Italy are exploring the creation of a Kazakh-Italian investment fund aimed at advancing the agro-industrial complex and expanding bilateral trade. This initiative was the central topic of discussion during a meeting between Kazakhstan’s Deputy Prime Minister and Minister of National Economy, Serik Zhumangarin, and Gianantonio Tramet, founder of Tramite Group and official representative of the Kazakhstan-Italy Chamber of Commerce and Industry.
Gianantonio Tramet introduced Tramite Group as a key player in the Italian food market with over 30 years of experience collaborating with Europe’s top retail chains. He presented the proposal for an Italian-Kazakh trade consortium and investment fund to be registered at the Astana International Financial Center (AIFC), with an initial capital of €500mn and a projected annual turnover of €1bn.
According to the plan, Italian venture investors and SIMEST (a subsidiary of the CDP Group) will hold a 51% stake in the fund, while Kazakhstan’s national holding Baiterek will hold the remaining 49%. The project aims to establish a robust logistics and investment platform to connect Kazakh producers with global markets, including the EU, Russia, the CIS, China, Southeast Asia, the Persian Gulf, and the USA.
The fund envisions boosting exports of a wide range of Kazakh agricultural products, including grains, meat, oils, legumes, dairy, dried fruits, and purees. It will also support infrastructure investments in Kazakhstan’s agro-industrial sector, secure long-term procurement deals with top European food companies such as Parmafood, Inalpi, Sterilgarda, and Zanetti, and enable joint supply chain management.
Tramet noted that seven major Italian food companies have already shown interest in localizing production in Kazakhstan. One key area of focus is the "Export Agro-Industrial Cluster Shardara" project in the Turkestan region, led by AGRIQA Asia. With a planned investment of €200mn between 2024 and 2028, the project includes the construction of greenhouses on 22 hectares, facilities for processing fruit and vegetables, an alfalfa granulation plant, a tomato processing plant, and an agricultural division with 8,000 hectares of drip-irrigated land.
Deputy Prime Minister Zhumangarin underscored Kazakhstan’s commitment to creating a favorable environment for international investors.
“The government of our country is making every effort to create optimal conditions that facilitate the successful implementation of investment projects,” Zhumangarin said. “We express our full readiness to support the initiative to create a Kazakh-Italian investment fund aimed at developing the agro-industrial complex. This project is a significant incentive for increasing export potential and strengthening economic ties.”
To accelerate cooperation, Zhumangarin instructed the Ministry of Trade and Integration to organize a trade and economic mission to bring together Kazakh and Italian manufacturers for continued discussions and joint project development.
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