ASTANA – Kazakh President Kassym-Jomart Tokayev outlined his vision of Kazakhstan’s role in global economic processes during the Dialogue of Leaders session at the inaugural Berlin Global Dialogue forum on Sept. 28, reported the Akorda press service.
“After decades of globalization and integration, we now face a situation in which conflicts, geopolitical tensions, disrupted markets are deeply eroding global political and economic stability,” Tokayev said.
Kazakhstan’s role in stabilizing international economic ties
According to the President, the world needs new universal values to solve global economic problems. Otherwise, humanity faces an unprecedented fragmentation of global trade, which could lead to a 7% drop in global gross domestic product (GDP).
Addressing the meeting participants, Tokayev mainly focused on Kazakhstan’s role in stabilizing international economic ties.
“With the second largest proven oil reserves in Eurasia, Kazakhstan is a major energy supplier to the global markets. Given that 70% of our oil exports go to the European Union (EU), we stand ready to enhance our export capacities and contribute to mitigating the global energy crisis,” he highlighted.
The President informed the participants about new prospects for developing Kazakhstan’s national economy.
“Last year, Kazakhstan’s exports increased by almost 40%. While a significant portion of our GDP still comes from the energy sector, our drive towards diversification is accelerating. Witnessing growth in diverse sectors such as automotive, pharmaceuticals, processed metals, and mechanical engineering, Kazakhstan continues to attract significant foreign investment due to our growing reputation as an exceptional environment to do business in,” Tokayev said.
The President encouraged the forum participants to explore new areas for economic partnership with Kazakhstan. Notably, the Trans-Caspian International Transport Route (TITR), also known as the Middle Corridor, offers new possibilities for trade and investment in the region by halving the transit times for goods transported via existing maritime routes.
Kazakhstan’s Climate Commitment
Tokayev mentioned that Kazakhstan is the first country in the region to ratify the Paris Agreement and adopt the Carbon Neutrality Strategy by 2060. The government implements several critical international projects in this area.
“Svevind, a German-Swedish company, is channeling $50 billion in investment in its operations in Kazakhstan, targeting the production of 2 million tons of green hydrogen per year. Furthermore, a plethora of investment opportunities exist for businesses aspiring to process raw materials and ores locally, primed for export to the EU. We are confident that the availability of affordable energy resources, committed state support, and competitive labor costs make this an attractive proposition,” said Tokayev, adding that Kazakhstan has emerged as a truly global and reliable trade and economic partner.
Tokayev emphasized the importance of joint responsibility to accelerate a prosperous and inclusive future for all.
“In June of this year, upon my initiative, we launched the first Astana International Forum (AIF) – a unique and inclusive platform established to advance global cooperation and dialogue in this time of geopolitical polarization. It is my sincere hope that the Berlin Global Dialogue and the AIF, standing as valuable spaces for international dialogue in Europe and Eurasia, can reinforce their respective efforts in addressing our global concerns,” Tokayev emphasized.
After his speech, the President addressed questions from the forum participants.
The forum was also attended by Federal Chancellor of Germany Olaf Scholz, President of the European Council Charles Michel, Prime Minister of Belgium Alexander De Croo, Prime Minister of Albania Edi Rama, and other senior politicians, heads of international companies and financial institutions.
Meeting with the President of Sri Lanka
On the sidelines of the Berlin Global Dialogue forum, Tokayev held talks with the President of Sri Lanka, Ranil Wickremesinghe.
Commending strong ties between the two countries, Tokayev emphasized the need to take effective measures at the government level to unlock the existing potential of trade and investment ties and drew attention to the importance of facilitating the visa regime and establishing direct regular flights between the countries. Tokayev invited Wickremesinghe to participate in the Astana International Forum scheduled for 2024.
During the meeting, the Presidents discussed important aspects of interaction within international organizations, including at the United Nations (UN) level.