World Monitor Magazine April 2017 - Page 26

Invest to kazakhstan More details on trade and investment: * The EU is Kazakhsan’s first trade partner, representing 39 percent of total trade in commodities in 2016, and for sure its largest export market (almost half of Kazakhstan’s goods are exported to the EU). The volume of goods exported from EU countries in the same year amounted to 6.8 billion euros, while imports from Kazakhstan – 14.7 billion euros. and the Republic of Kazakhstan. The EU is the first trade partner of Kazakhstan (one third of the country’s total trade in 2015) and its major investor. The Enhanced Partnership and Cooperation Agreement (EPCA) governs the trade and economic relations between the EU and Kazakhstan. The EU High Representative for Foreign Affairs and Security Policy/Vice-President of the European Commission, Federica Mogherini, and the Minister of Foreign Affairs of the Republic of Kazakhstan, Erlan Idrissov, signed the agreement on 21 December 2015 in Astana. With few exceptions, most of the EPCA chapters covering trade and business are in provisional implementation since 1 May 2016. The EPCA trade and business chapters will promote the development of business and investment relations. This will be achieved by the enhanced cooperation and improvement of the legal and regulatory environment for European and Kazakhstani companies in such areas as: 24 world monitor * trade in services * establishing and managing companies * capital movements * raw materials and energy * state procurements * intellectual property rights Additionally, Kazakhstan has joined the World Trade Organization (WTO) on 30 November, 2015. The EU has consistently assisted Kazakhstan in this action, which will assist the country’s integration into the world economy by applying international trade rules and regulations. High level discussions Trade and economic relations are regularly discussed at annual meetings of the EU-Kazakhstan Cooperation Council, where their decisive role in partnership is emphasized. Technical discussions on trade, investment and customs issues are also regularly held at meetings of the Cooperation Committee and specially established subcommittees in Brussels and Astana. • Mainly energy products (mineral raw materials, fuel) are imported from Kazakhstan into the European Union countries (87.7 percent in 2015). • The major share of EU exports to Kazakhstan is machinery and transport equipment, other industrial goods and chemical products. • In 2014, the cost of EU services exported to Kazakhstan was 23 billion euros, while imports from Kazakhstan – 1.2 billion euros. * The European Union is the largest investor in Kazakhstan. • In 2000-2014 the EU gross investments amounted to about 106 billion US dollars. • According to the National Bank of the Republic of Kazakhstan, in 2014 the total inflow of foreign direct investments (FDI) to Kazakhstan amounted to 23.9 billion US dollars. The EU share was 45 percent (10.7 billion US dollars). • The volume of the EU FDI in 2014 amounted to 41.5 billion euros.