Kazakh-Belgian Business Council: Establishing a new round of cooperation

18 May 2023 years

Kazakh-Belgian Business Council: Establishing a new round of cooperation

Almaty, Kazakhstan - The Chamber of Foreign Trade of the Republic of Kazakhstan and the Chamber of Commerce "BeNeLux" have signed agreements on the establishment of the Kazakh-Belgian Business Council. The signing of this document has become one of the key moments of interaction between the two countries after the successful state visit of the President of the Republic of Kazakhstan Kassym-Jomart Tokayev to the Kingdom of Belgium.

The Kazakh-Belgian Business Council will serve as a platform for regular meetings between representatives of the business community of Kazakhstan and Belgium, where common interests will be discussed and proposals will be developed to strengthen constructive interaction with the government bodies of both countries. The first meeting of the Kazakh-Belgian Business Council is scheduled for June 5 this year in Astana. This important event is organized by the BeNeLux Chamber of Commerce in the Republic of Kazakhstan and the Foreign Trade Chamber of the Republic of Kazakhstan.

Belgium is a major trading partner of Kazakhstan in the European Union and an important source of investment and new technologies. At the end of 2022, the turnover of goods between the two countries amounted to 514,5 million US dollars, which is 23% higher than the figure for the previous year (418,3 million US dollars). Kazakhstan exported products worth $272,1 million to Belgium, while imports from Belgium amounted to $242,4 million.

For the period from 2005 to 2022, direct foreign investment from Belgium to Kazakhstan amounted to about 11,5 billion US dollars. Currently, more than 70 enterprises with the participation of Belgian capital operate in Kazakhstan. Among the largest of them are Solvay Chemicals International SA, Sarens Group (specializing in the field of oil and gas infrastructure), Evolion (working in the field of alternative energy sources), Carmeuse (mining company) and Ahlers. (international logistics company).

The ceremony of signing the agreement in Almaty was attended by a delegation of deputies of the Federal Parliament of Belgium, who were in Kazakhstan within the framework of the activities of the Inter-Parliamentary Union (IPU).