BAKU, Azerbaijan, May 24. The total trade volume between Kazakhstan and the EU reached $10.2 billion during the first quarter of 2023, marking a significant 12.5 percent increase against $9.1 billion in the same period in the previous year, Trend reports.
This was stated at the meeting of the Kazakhstan-EU Cooperation Committee chaired by Kazakhstan's Vice Minister of Trade and Integration of Kairat Torebayev and the European Commission Head of Unit for Southern neighbors, Middle East, Türkiye, Russia, Belarus and Central Asia Nele Eichhorn.
At the meeting, it was noted that the EU stands as the largest trading partner of Kazakhstan, accounting for 30 percent of its external trade. The dynamics of bilateral trade demonstrate consistent annual growth in trade volumes.
Additionally, Kazakhstan has the potential to offer the EU over 175 types of processed goods, amounting to more than $2.3 billion annually. These goods span various sectors, including machinery, iron and steel production, the food industry, and agriculture. With its significant grain production capabilities, the country has the potential to become a strategic partner for the EU in achieving global food security objectives.