Kazakh-Belgian Business Council: Opening a New Chapter of Cooperation

18 May 2023

Kazakh-Belgian Business Council: Opening a New Chapter of Cooperation

Almaty, Kazakhstan — The Foreign Trade Chamber of the Republic of Kazakhstan and the BeNeLux Chamber of Commerce signed agreements to establish the Kazakh-Belgian Business Council. The signing of this document was one of the key moments of engagement between the two countries following the successful state visit of 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 of representatives of the Kazakh and Belgian business communities, where shared interests will be discussed and proposals developed for strengthening constructive engagement with government bodies in both countries. The first meeting of the Kazakh-Belgian Business Council is scheduled for 5 June this year in Astana. This important event is being organised by the BeNeLux Chamber of Commerce in Kazakhstan and the Foreign Trade Chamber of the Republic of Kazakhstan.

Belgium is a major trading partner of Kazakhstan within the European Union and an important source of investment and new technology. By the end of 2022, trade turnover between the two countries reached $514.5 million, up 23% on the previous year ($418.3 million). Kazakhstan exported $272.1 million worth of goods to Belgium, while imports from Belgium amounted to $242.4 million.

Between 2005 and 2022, foreign direct investment from Belgium into Kazakhstan totalled around $11.5 billion. More than 70 enterprises with Belgian capital currently operate in Kazakhstan. Among the largest of these are Solvay Chemicals International SA, Sarens Group (specialising in oil and gas infrastructure), Evolion (working in alternative energy sources), Carmeuse (a mining company) and Ahlers (an international logistics company).

The signing ceremony in Almaty was attended by a delegation of members of the Belgian Federal Parliament who were in Kazakhstan as part of the activities of the Inter-Parliamentary Union (IPU).