Kazakhstan has proposed Italy to start close cooperation in the agricultural sector. In particular, the supply and processing of grain crops. At a meeting of the Kazakh-Italian working group on economic and industrial cooperation in Astana, it was possible to agree on the supply of high-quality Kazakh grain to Italian processing companies, the APK News agency reports.
Italy is one of Kazakhstan's main trading partners among the countries of the European Union, ranking third in terms of trade turnover.
"Kazakhstan has proposed expanding cooperation in the agricultural sector, including fruit growing, vegetable growing and grain processing. In this context, the National Company "Food Contract Corporation" expressed its readiness for long-term partnerships with Italian grain processors and discussion of the supply of high-protein wheat to the Italian market," the Ministry of Trade and Integration said in a statement.
During the conversation, it was noted that the trade turnover between Kazakhstan and Italy reached $16.1 billion in 2023, which is 8% more than a year earlier. This increase highlights the expansion of cooperation in such important areas as transport, agriculture, information technology and innovation, and other important areas.
Exports from Kazakhstan to Italy reached $14.8 billion, imports amounted to $1.2 billion.
An important aspect of the meeting was the discussion of increasing the volume of transportation along the Trans-Caspian International Transport Route, which will create additional opportunities for mutual trade. The parties also confirmed their interest in developing the transport and logistics sector.
It is also reported that an Italian bank plans to enter the Kazakhstan market: a credit line of the Italian state bank Cassa Depositi e Prestiti is opening.