News Digest: Foreign Media on Kazakhstan’s Multilateral Heft, Economic Growth and More
ASTANA – The Astana Times has selected articles from global media outlets covering Kazakhstan. This week’s foreign media digest includes articles on Kazakhstan’s influence, economic growth, and cooperation with Italy, Uzbekistan, and Luxembourg.
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Kazakhstan’s Multilateral Heft
An expert article published in The National Interest on July 22 argues that Kazakhstan protects its autonomy by not aligning too closely with any single state, balancing its international connections, and engaging with numerous multilateral groups.
The article notes that as a founding member of the Shanghai Cooperation Organization (SCO), Kazakhstan has introduced various initiatives, such as agreements on settling border issues and combating terrorism. The current SCO agenda focuses on cultural cooperation, environmental protection, and digital connectivity. Additionally, Kazakhstan’s Nurly Zhol infrastructure development program aims to enhance regional trade and investment through extensive railroad and highway construction, promoting greater economic integration in Central Asia.
Central Asia’s most prosperous state poised for strong economic growth in 2024
Kazakhstan’s GDP grew by 5.1% in 2023, according to The Economic Times article published on July 22.
Major sectors all saw positive growth: construction increased by 13.3%, trade by 11.3%, information and communication services by 7.1%, transport services by 6.9% and industry by 4.3%. The government predicts further growth of at least 5.3% in 2024.
With venture transactions exceeding $110 million, President Kassym-Jomart Tokayev aims for 6-7% annual growth. The National Development Plan, aligned with the Organization for Economic Cooperation and Development standards, seeks to position Kazakhstan as a regional hub, emphasizing balanced economic reforms and transparency. The World Bank forecasts 4.5-5% GDP growth in 2025.
Trade association names date of following Kazakh-Italian business forum
The next Kazakh-Italian business forum will take place on Oct. 7-8 in Milan, according to Marco Beretta, President of the Italo-Kazakh Trade Association (ACIK), Trend reported on July 25.
He stated there is significant potential for trade and economic cooperation between Italy and Kazakhstan. Both nations are committed to deepening their strategic partnership and diversifying economic relations beyond traditional sectors such as energy, exploring opportunities in creative industries, tourism, and addressing climate and environmental issues.
Italy’s technological expertise and investment in various sectors can significantly benefit Kazakhstan’s economic diversification and modernization efforts, particularly in the agricultural industry, where Italy’s advanced technologies can play a crucial role.
Uzbekistan, Kazakhstan to introduce full free trade regime
Uzbekistan and Kazakhstan plan to introduce a full free trade regime, Xinhua reported on July 13, citing the press service of the Uzbek government.
Given the geopolitical and rapidly changing situation, the two countries aim to increase the volume of mutual trade to $10 billion in the coming years by effectively using existing reserves. To achieve this, it is essential to strengthen systematic work on replacing imports from third countries and transitioning to a whole free trade regime.
Ministries of Foreign Affairs of Kazakhstan and Luxembourg hold political consultations
EU Reporter published an article on July 19 about the second round of political consultations between Kazakhstan and Luxembourg.
Kazakhstan expressed interest in further developing and expanding bilateral and multilateral cooperation, particularly in political, trade, and economic fields, as well as people-to-people ties.
Luxembourg emphasized the high dynamics of bilateral relations and noted Kazakhstan’s crucial role as a partner in Central Asia, reaffirming support for visa liberalization between Kazakhstan and the European Union.
