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Astana, Kazakhstan • 28 September, 2022 | 10:29
1 min read

Kazakhstan and Italy to Form Pool of Industrial Projects

The trade turnover between the two countries in 2022 amounted to $9.2 billion

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As part of Kazakhstan Machinery Fair 2022, Vice-minister of Industry and Infrastructural Development Marat Karabayev discussed partnership plans with a delegation from Italy, QazMonitor reports citing the Central Communications Service.

The meeting focused on the development of a fundamental partnership between the countries in the fields of mechanical engineering, metallurgy, chemistry, the light industry, and the building industry. Special conditions have been created in order to create major incentives for investors.

Currently, the turnover between Kazakhstan and Italy in the first 7 months of this year amounted to $9.2 billion.

Kazakhstan’s main exports to Italy are ferroalloys, unprocessed aluminum, scrap precious materials, steel products, and lead. In comparison to the same period last year, export saw an increase by half to $8.7 billion.

As for imports, Italy supplies Kazakhstan with cranes, valves, pumps, fans, and various equipment. This year, the volume of imports increased by 9.7% with both countries interested in setting up further partnerships concerning the turnover of mentioned products.

"To date, as one of the tools for industrialization of our country, special attention has been paid to the implementation of investment projects,” Karabayev said. “A special pool of Kazakh-Italian projects is expected to be formed in the near future.”

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