The EU-Kazakhstan Enhanced Partnership and Cooperation Agreement was initialed in Brussels on 20 January 2015.
This agreement will greatly facilitate stronger political and economic relations between Kazakhstan and the EU. It will increase the flow of trade, services and investment between the parties and will contribute to Kazakhstan's political and social development.
The initialing of the Agreement is an important step towards its eventual signature and subsequent implementation.
On the EU side the agreement was initialed by chief negotiators Mr Gunnar WIEGAND, Director for Russia, Eastern Patnership, Central Asia, Regional Cooperation and OSCE at the European External Action Service and Mr Luc Pierre DEVIGNE, Head of Unit for Trade aspects of European neighbourhood policy, Trade relations with countries of the CIS and Balkans at the European Commission's Directorate-General for Trade. On the Kazakhstan side it was initialed by Mr Alexei VOLKOV, Deputy Minister of Foreign Affairs and Ms Zhanar AITZHANOVA, Minister for Economic Integration.
Kazakhstan is the first Central Asian partner to have concluded an Enhanced Partnership and Cooperation Agreement with the EU. The new Agreement will replace the Partnership and Cooperation Agreement in force since 1999, and will give EU – Kazakhstan relations a new up-to-date and stronger foundation.
Over the past decades, the EU has become Kazakhstan's first trading partner and first foreign investor, representing over half of total FDI in Kazakhstan. Bilateral trade amounts to above € 31 billion, from which € 24 billion is Kazakhstan's exports, notably oil, while about € 7.5 billion is EU exports to Kazakhstan, mainly manufactured goods, machinery and equipment.
For more information
Factsheet on the EU-Kazakhstan Enhanced Partnership and Cooperation Agreement:
EU-Kazakhstan relations: http://eeas.europa.eu/kazakhstan/index_fr.htm
EU-Kazakhstan trade: http://ec.europa.eu/trade/policy/countries-and-regions/countries/kazakhstan/