France Invests Nearly $18.7 Billion in Kazakhstan’s Economy

ASTANA – France has invested approximately $18.7 billion in Kazakhstan’s economy, President Kassym-Jomart Tokayev said at a Nov. 1 expanded-format meeting with French President Emmanuel Macron, reported the Akorda press service. 

Expanded-format meeting of the Kazakh and French Presidents. Photo credit: Akorda.

Mutual trade grew 30% to $4 billion last year, having increased by 21% to $2.7 billion in the eight months of 2023, Tokayev added.

Both countries undertake joint projects in energy, construction, aerospace, pharmaceutical, mining, chemical, and mechanical engineering.

Tokayev highlighted Macron’s personal contribution to the development of relations, reaffirming Kazakhstan’s readiness to expand collaboration, particularly in green energy, logistics, transit, agriculture, healthcare, digitalization, and education.

Tokayev also stated the need to promote French culture and language in Kazakhstan.

Macron mentioned the 15th anniversary of the Strategic Partnership Agreement that both countries mark, reiterating France’s support for investment in ongoing projects and new initiatives. He said economic relations will take a step toward developing agriculture and energy, especially renewable energy.

Macron spoke about specific agreements reached in education and science, focusing on the Kazakh-French university, which will open its doors in September 2024.

The presidents emphasized the need to deepen dialogue through international organizations, given the importance of positive and sustainable interaction on key issues of the regional and global agenda.

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