On 20 January, Almaty and Brussels signed a new, enhanced partnership agreement for stronger political and economic relations.
The new agreement replaces the Partnership and Cooperation Agreement that has been in force since 1999, and is a significant step to increase the flow of trade, services and investment between Kazakhstan and the European countries.
Kazakhstan is the first country in Central Asia to commit to an enhanced partnership agreement with Brussels. Over the past decades, the EU has become the country’s first trading partner and first foreign investor. Kazakhstan’s exports to the EU (almost 40% of its external trade in total) are heavily dominated by oil and gas. While in 2013, the EU’s export to Kazakhstan amounted to € 7.5 billion, mainly manufactured goods, machinery and equipment.
This new partnership is an exciting opportunity for law firms. The Law Society of England and Wales has already engaged in organising a Central Asian inward trade mission for representatives of leading legal firms from the region. Visit our website for more information on the event.
For more information:
View the summary of the EU-Kazakhstan Enhanced Partnership and Cooperation Agreement here.
Read more about EU-Kazakhstan Trade on the European Commission’s website.