Kazakhstan’s Investment and Trade Opportunities Presented in Brussels

Brussels, 10 September 2024 — The Embassy of Kazakhstan in Belgium, in cooperation with the Belgian Foreign Trade Agency, the Belgian Ministry of Foreign Affairs, the export credit agency Credendo, and the agencies FIT and AWEX, held a seminar to discuss Kazakhstan's investment prospects and the strengthening of bilateral economic relations.

The event was attended by more than 50 representatives of Belgian state and quasi-state bodies, as well as leading Belgian companies.

In her opening remarks, Fabienne Lust, Chair of the Board of the Belgian Foreign Trade Agency, highlighted Kazakhstan's growing importance as a key transport hub between Europe and Asia and noted the active development of economic ties between the two countries.

Margulan Baimukhan, Ambassador of Kazakhstan to Belgium, confirmed in his remarks the country's commitment to supporting foreign investors and invited Belgian companies to expand their operations in Kazakhstan. The diplomat also outlined the key aspects of President Kassym-Jomart Tokayev's September Address to the Nation.

Henri Vantieghem, Ambassador of Belgium to Kazakhstan, spoke about the deepening political and economic cooperation between the two states, highlighting in particular the achievements of the Kazakh-Belgian Business Council.

The Kazakh side also presented seminar participants with the measures being taken by the Government to improve the investment climate and outlined investment opportunities in transport and logistics, agriculture, tourism, metallurgy — including rare-earth metals — and other sectors.

During the discussion, representatives of Belgian business shared their experience of working with Kazakh partners. Aizhan Musakanova, Trade and Economic Adviser at the Embassy of Belgium in Kazakhstan, presented opportunities for expanding export-import cooperation between the two countries.

By the end of 2023, trade turnover between Kazakhstan and Belgium exceeded $523 million, while the volume of Belgian direct investment in Kazakhstan exceeded $1 billion, making Belgium one of the key investors in the country's economy.