Kazakhstan and Austria expand trade and investment

Kazakh Foreign Minister Mukhtar Tleuberdi met on 14 November with the Secretary General of Austria's Federal Ministry for Economy, Energy and Tourism, Severin Gruber, and with representatives of major Austrian companies and state holdings — OMV, Österreichische Beteiligungs AG (ÖBAG) and the Austrian-Kazakh Platform for Relations (AKCP).

The sides discussed expanding trade, investment and industrial cooperation in the areas of transport connectivity, energy, petrochemicals and critical raw materials, as well as preparations for the 13th meeting of the Kazakh-Austrian intergovernmental commission on trade and economic cooperation and the 11th meeting of the business council — they will be held on 19-20 November in Vienna.

Tleuberdi told the Austrian delegation about Kazakhstan's plans to modernize its infrastructure, industry and energy sector. Particular attention was given to the Trans-Caspian International Transport Route, or Middle Corridor, and to opportunities for strengthening Kazakhstan's role as a transit link between Europe and Asia. The minister noted the potential for joint projects through the Austrian-Kazakh Platform for Relations, the Team Austria initiative and the EU's Global Gateway strategy.

Gruber confirmed the interest of Austrian business in expanding its presence in Kazakhstan and called for more active use of bilateral mechanisms for investment projects in energy, mechanical engineering, agriculture, agribusiness and tourism.

The sides named localization of production, petrochemicals, renewable energy, non-commodity exports and critical raw materials as priority areas. They agreed to continue work on strengthening bilateral economic ties and on seeking new investment opportunities.