ASTANA — President Kassym-Jomart Tokayev highlighted economic cooperation as a cornerstone of the strategic partnership between Kazakhstan and France during an investment round table in Paris on Nov. 5. Addressing leaders of French businesses, he emphasized Kazakhstan’s growing trade and investment ties with France and outlined new partnership opportunities, reported Akorda.
Kazakh President Kassym-Jomart Tokayev participates in an investment round table in Paris on Nov.5. Photo credit: Akorda
“We are pleased to be one of France’s main trade, economic and investment partners in Central Asia. Kazakhstan now accounts for more than 80% of France’s trade with the region. This year, the volume of bilateral trade has increased by 45%. We expect this trend to continue,” said Tokayev.
Tokayev noted that French direct investment increased by 15%, reaching nearly $900 million. Over 200 French companies, including Total, Alstom, Orano, Danone, Vicat, and Airbus, currently operate in Kazakhstan.
Foreign investment and energy cooperation
Tokayev discussed Kazakhstan’s ongoing economic transformation and commitment to international standards set by the Organization for Economic Cooperation and Development (OECD). He detailed recent economic reforms to attract foreign investment and foster a transparent, modern business environment.
Tokayev Highlights Economic Cooperation as Pillar of France-Kazakhstan Partnership. Photo credit: Akorda
“As a major supplier of oil and uranium to the European Union, Astana is ready to continue to support France’s energy sovereignty. We expect a greater French industry presence in Kazakhstan, particularly through advanced technologies in the production sector. As the world’s largest uranium producer, and with France’s nuclear expertise, we see opportunities for cooperation in civil nuclear energy,” said Tokayev.
Renewable energy, climate initiatives and water management
According to Tokayev, Kazakhstan became the first country in the region to ratify the Paris Agreement and commit to net-zero emissions by 2060. Tokayev noted that foreign companies, including Total Energies, have shown interest in investing in Kazakhstan’s renewable energy sector. Total Energies, for instance, plans to build a one-gigawatt wind farm in Kazakhstan, with an estimated $1.1 billion investment.
Tokayev also emphasized water resource management and heat supply as priorities for adapting to climate change. Cooperation with French companies Suez and Veolia will support Kazakhstan’s efforts to modernize water infrastructure, improving the management of vital resources.
“With global demand for critical raw materials expected to quadruple by 2040, Kazakhstan can become a reliable supplier for French and European industries. We currently extract 19 of the 34 most important raw materials essential to the EU economy, including titanium, copper, magnesium and scandium,” said Tokayev.
He noted that deposits of rare earth minerals, including lithium, beryllium, and tantalum, could further support high-tech and green industries.
Enhancing transportation, logistics and agricultural trade
Tokayev noted that the transport and logistics sector is gaining importance in today’s evolving geopolitical landscape, with Kazakhstan holding a strategic position in Eurasia. He outlined ongoing projects to modernize the country’s transport infrastructure and encouraged French business leaders to explore investment opportunities.
He also noted Kazakhstan’s agricultural significance for global food security. As one of the top ten grain exporters, Kazakhstan supplies eight million tons of wheat and two million tons of flour to over 80 countries. This year, grain export potential has expanded to 12 million tons. Tokayev encouraged French firms to explore investment and technological partnerships in livestock and seed breeding.
Expanding digital transformation and IT cooperation
Kazakhstan aspires to become the leading IT hub in Eurasia. The UN ranked Kazakhstan 24th globally for e-government technologies and 10th in providing online services.
“These ratings reflect Kazakhstan’s achievements in digital transformation, including investments in digital infrastructure and advanced technologies such as artificial intelligence (AI) and blockchain. We are open to partnerships with French IT companies to develop innovative solutions, particularly in Industry 4.0, AI and smart cities,” said Tokayev.
Concluding his remarks, Tokayev expressed confidence that the round table would deepen Kazakh-French economic cooperation. He invited French President Emmanuel Macron for a state visit to Kazakhstan next year and encouraged French entrepreneurs to attend the Astana International Forum in May 2025.
