Energy, Industrial Cooperation Agreements Signed During Visit of Italian Prime Minister

Italian PMSCHUSCHINSK – Two cooperation agreements were signed and prospects for expanding cooperation in energy, agriculture and transportation were discussed during the meeting of Kazakh President Nursultan Nazarbayev and Prime Minister of Italy Matteo Renzi on June 12 in the Burabai resort area near here, approximately 250 kilometres north of Astana. Renzi was in Kazakhstan on a working visit.

The two documents signed include an agreement between KazMunayGas and Italy’s Eni S.p.A on implementing the Issatay exploration project and a shipbuilding/shipyard construction project, as well as a memorandum of understanding between Kazakhstan’s Ministry of Industry and New Technologies, IVECO S.p.A. and Allur Group LLP.

The parties also discussed prospects for expanding cooperation in oil and gas, transport, energy and agriculture, as well as in the trade, economic and investment spheres. In addition, Nazarbayev and Renzi exchanged views on current issues on the international agenda.

After the ceremony of signing bilateral documents, the leaders made a joint statement.

President Nazarbayev noted that relations between Kazakhstan and Italy are developing intensively in many areas.

“Italy is a strategic economic partner of Kazakhstan in Europe. Italy accounts for 13 percent of Kazakhstan’s foreign trade. The total volume of Italian investments in our economy is $6.5 billion. Moreover, Italy is the largest consumer of Kazakhstan’s oil,” he said.

The President also noted that Kazakhstan has high hopes for Italy’s upcoming chairmanship of the European Union in the second half of 2014, since the country is preparing to sign an enhanced Partnership and Cooperation Agreement with the EU. The Kazakh President also invited the prime minister to pay an official visit to Kazakhstan.

In turn, the Italian prime minister expressed hope for further cooperation between Kazakh and Italian companies.

“I deeply believe in the strengthening of relations between Kazakhstan and Italy. I am grateful to Kazakhstan for the support you provide to our companies here,” he said.

The prime minister thanked Nazarbayev for the meeting and noted that he accepted the invitation for an official visit with gratitude.

He also expressed appreciation for Kazakhstan’s upcoming participation in WORLD EXPO 2015 in Milan and congratulated the country on winning the international specialised EXPO 2017 for Astana.

Eni S.p.A. is important to the Kazakh economy, Renzi said, and he expressed hope for the development of cooperation between other Kazakh and Italian companies, including Fiat, Italcementi Group and Finmeccanica S.p.A.

“I would also like to say that our country is in need of partners such as Kazakhstan, where there is always stability and prosperity,” the visiting prime minister concluded.

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