Kazakhstan, Italy signed bilateral documents worth USD 1 bln at joint business-forum – President’s visit to Rome


Yernur Akanbay

Kazakhstan, Italy signed bilateral documents worth USD 1 bln at joint business-forum - President's visit to RomeA Kazakh-Italian business forum took place today in Rome within the official visit of President Nursultan Nazarbayev to Italy. The forum ended with signing a number of documents amounting to USD 1 bln, Minister of Economy and Budget Planning of Kazakhstan Bakhyt Sultanov, who is among the delegation members, has said.

“The President’s visit started with an important business forum. We presented Kazakhstan’s investment potential to our Italian colleagues who in turn expressed interest in cooperation with the Kazakh businessmen. Participation of 150 Italian and 50 Kazakhstani companies in the event set the best pattern of this. Bilateral documents to the amount of USD 1 bln were signed following the forum”, Sultanov noted.

According to him, in 2008 Italy ranked the third after China and Russia in commodity turnover with Kazakhstan – KZT 14 bln. “Of course, KZT 12 bln of this sum falls on export of energy resources and metals from Kazakhstan. However, both countries possess huge potential for trade relations development, and Italian companies are interested in it”, the Minister resumed.


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Kazakhstan, Italy sign Strategic Partnership Agreement


Yernur Akanbai

Staying on an official visit to the Italian Republic President of Kazakhstan Nursultan Nazarbayev met with Prime Minister Silvio Berlusconi on Thursday. After the negotiations an agreement on strategic partnership between Kazakhstan and Italy was concluded.

The document was signed by Kazakh Secretary of State – Foreign Affairs Minister Kanat Saudabayev and Italian Foreign Affairs Minister Franco Frattini.

“We will do our best to make relationships between Kazakhstan and Italy strategic”, N. Nazarbayev said after the ceremony of signing. He noted that over recent years Kazakhstan as a young state made every effort to become economic and political partner of Italy.

“Commodity circulation between Kazakhstan and Italy makes 30 per cent of the total turnover between our country and the European Union and exceeds KZT 14 billion. Italy invested about USD 6.7 billion in Kazakhstan’s economy. 97 joint ventures function presently”, the Head of the State stressed.

Mr. Berlusconi thanked N. Nazarbayev for his contribution to the development of friendship between Kazakhstan and Italy. He expressed confidence in further successful development of economic links between the two states.