Spain and Kazakhstan strengthen trade and investment ties: mutual trust and growth

 

The Spanish capital was the scene of a momentous meeting between government and business representatives from Spain and Kazakhstan, with the aim of deepening the economic and commercial relationship between both nations. Kairat TorebayevKazakhstan's Deputy Minister of Trade and Integration emphasized the strength of bilateral ties, noting that "6% of all investment in Kazakhstan is Spanish." According to Torebayev, this figure reflects "Spain's confidence in the Kazakh economy and its desire to collaborate."

 

The Kazakh deputy minister also highlighted the 83% increase in Spanish exports of agri-food products, reaffirming that "Spain is one of Kazakhstan's most important partners in Europe." These statements were made during the Eighth Meeting of the Spain-Kazakhstan Business Council, an event organized by the Spanish Chamber of Commerce, ICEX Spain Export and Investment, and CEOE, coinciding with the Joint Intergovernmental Commission.

 

Amparo López SenovillaThe Secretary of State for Trade highlighted the importance of the Spanish-Kazakh Business Council for "strengthening ties and forging business links." She emphasized Spain's support for "market diversification to reinforce economic security" and its interest in strengthening relations with Central Asia and Kazakhstan, where "several Spanish companies are already present and there are growing opportunities to continue collaborating on projects of mutual interest."

 

Immaculate RieraThe director general of the Spanish Chamber of Commerce highlighted the "good business climate" in Kazakhstan and the "growth potential" with Spain. Trade flows close to 2.200 billion euros“We are at a point where Kazakhstan and Spain can take a leap forward in consolidating closer and mutually beneficial trade and investment relations through public-private partnerships,” Riera stated. He also highlighted the “enormous potential to be tapped, with opportunities for collaboration in new sectors and third-party markets in the region.”

 

Marta WhiteThe president of the CEOE's International Relations Committee expressed her gratitude for "the smooth institutional relations between both countries, which fosters trust and interest among businesses." She noted that Kazakhstan was one of the first delegations to visit Spain after the Covid-19 crisis and highlighted its "geostrategic position," its "dynamic economy" with growth exceeding 4%, its "natural resources," and the "government's efforts to liberalize the economy and implement structural reforms." Blanco also emphasized "Kazakhstan's commitment to multilateralism."

 

Murat Karimsakov, President of the International Chamber of Commerce of Kazakhstan, detailed the work of his institution in the development of local industry and the attraction of foreign investment. Timur Onzhanov, co-president of the Spain-Kazakhstan Business Council, mentioned support for foreign companies in sectors such as agri-food, chemicals, metallurgy, and tourism, and three key initiatives for the next four years in housing construction, civil engineering, and hydrology. Oscar Maza LópezThe representative of the Business Council reaffirmed the "confidence of Spanish companies in the country and their interest in remaining there long-term."

 

The meeting was attended by Marat Yelibayev, CEO of the Kazakhstan Development Bank, and Altay Kuzdibayev, CEO of the Kazakh housing company. A final roundtable discussion allowed Spanish companies such as Loramendi, Técnicas Reunidas, Aqualia Railways, and Indra to share their experiences in Kazakhstan.