Kazakhstan and Russia are set to launch 27 new joint projects worth $8 billion, signalling a notable expansion in bilateral economic cooperation.
The announcement was made during Kazakh Prime Minister Olzhas Bektenov’s official visit to Moscow on April 21, where he met with his Russian counterpart, Mikhail Mishustin.
“This is a historic figure,” Bektenov said, referring to the $4 billion in Russian investment Kazakhstan received in 2024—a 32% increase over the previous year.
Currently, more than 23,000 companies with Russian participation operate in Kazakhstan, making up nearly 40% of all foreign enterprises in the country. These companies are active in critical sectors such as mechanical engineering, metallurgy, and chemicals. Notably, one in every three foreign-capital enterprises in Kazakhstan involves a Russian partner.
Bilateral trade reached $27.8 billion in 2024, and both nations aim to raise that to $30 billion in the near term. Over the past 20 years, Russian investors have poured $26 billion into Kazakhstan, while Kazakh businesses have invested approximately $9 billion in Russia.
Moscow continues to underscore Kazakhstan’s role as a strategic partner in the Eurasian region, with nearly 70% of trade conducted through direct cooperation between regional authorities.
Meanwhile, European interest in Central Asia is growing. Italian Prime Minister Giorgia Meloni is set to visit Uzbekistan on April 25–26, followed by a trip to Astana to participate in the inaugural “Central Asia–Italy” summit. Leaders from all five Central Asian nations are expected to attend.
Italy’s engagement with Kazakhstan is especially robust. Italian companies, active in the country since 1992, are involved in energy, agriculture, mechanical engineering, and hydropower projects. The country is already one of Kazakhstan’s top three trading partners and ranks fifth in foreign direct investment. In 2024 alone, bilateral trade has approached $20 billion.
This European outreach follows the recent Central Asia–EU Summit in Samarkand, where the European Union unveiled a €12 billion investment package aimed at deepening economic ties with the region.
Kazakhstan’s global importance is also rising due to its vast reserves of rare earth minerals. Just days before the EU summit, Kazakh authorities announced the discovery of a major rare earth deposit in the Karaganda region, estimated to hold nearly one million tons of critical elements such as cerium, lanthanum, neodymium, and yttrium—materials vital to digital and green technologies.
The “Central Asia plus one” format has become a popular diplomatic tool for Western countries — whether it’s the EU, Germany, the United States, Japan, or now Italy. As global competition for influence intensifies, Central Asia is emerging as a focal point of international diplomacy. And each new summit is no longer just a formality — it’s part of a broader geopolitical contest for the heart of Eurasia.
Uzbekistan, Kazakhstan, Türkiye, Iran, China, and Turkmenistan have reached a key agreement on unified rail transport tariffs, marking a strategic step toward enhancing cargo flows along the China–Europe corridor through Central Asia and the Middle East.
President Kassym-Jomart Tokayev and Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan held high-level talks in Astana, reaffirming their commitment to deepening strategic cooperation through a package of new agreements worth $5 billion.
Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan has arrived in Kazakhstan for an official visit, paving the way for stronger bilateral relations.
Kazakhstan and Pakistan signed a series of trade and transit agreements during a high-level business forum in Karachi, paving the way for expanded commercial cooperation and long-term logistics development between the two countries.
Kazakhstan’s Senate has approved a key agreement with the UAE to develop a 1 GW wind power station in the Zhambyl region, with plans to enhance renewable energy production and storage capacity. The project will create thousands of jobs and attract significant investments.
During a phone call Turkish President Recep Tayyip Erdoğan and Italian Prime Minister Giorgia Meloni discussed opportunities for peace in the Ukraine-Russia war, as well as bilateral relations and regional developments during a phone call.
A 5.9 magnitude earthquake has struck off the coast of Jalisco, Mexico.
U.S. President Donald Trump has announced that sanctions on Syria will be lifted. Following the decision, people in Damascus took to the streets in celebration.
Ukraine has successfully completed the necessary procedures to implement its deal with the United States regarding the exploitation of minerals and the operation of a newly established investment fund, the country's First Deputy Prime Minister, Yulia Svyrydenko, confirmed on Tuesday.
The excitement of Eurovision 2025 continues, with the following countries securing a spot in the Grand Final on Saturday, May 17
Israeli Prime Minister Benjamin Netanyahu said the war in Gaza will not stop until Hamas is destroyed, following the release of US-Israeli soldier Edan Alexander.
For the first time in history, an American has been chosen to lead the Catholic Church, as Cardinal Robert Prevost is named pope.
A Rafale fighter jet operated by the Indian Air Force has reportedly been shot down for the first time in combat, according to sources cited by CNN, marking a significant and symbolic development in the ongoing escalation between India and Pakistan.
U.S. President Donald Trump kicked off his Gulf tour with a high-profile visit to Saudi Arabia, securing a major strategic economic agreement and pledging deep investment ties between the two nations.
Azerbaijan’s Space Agency delegation, Azercosmos, is attending SATExpo Middle East 2025 in Dubai, a leading event focused on satellite technology and the expanding space economy.
During a phone call Turkish President Recep Tayyip Erdoğan and Italian Prime Minister Giorgia Meloni discussed opportunities for peace in the Ukraine-Russia war, as well as bilateral relations and regional developments during a phone call.
Uzbekistan and China will implement a mutual visa-free travel regime beginning June 1, following the completion of all required internal procedures on both sides, the Uzbek Foreign Ministry announced.
Russia’s Rosatom has launched the production of key reactor equipment for Uzbekistan’s first small modular nuclear power plant, marking a major milestone in the bilateral energy project, Rosatom announced.
Armenian alcohol producers rallied outside the Georgian Embassy in Yerevan, demanding answers over prolonged border delays they say are blocking exports to Russia and causing major financial losses.
During a phone call Turkish President Recep Tayyip Erdoğan and Italian Prime Minister Giorgia Meloni discussed opportunities for peace in the Ukraine-Russia war, as well as bilateral relations and regional developments during a phone call.
A 5.9 magnitude earthquake has struck off the coast of Jalisco, Mexico.
U.S. President Donald Trump has announced that sanctions on Syria will be lifted. Following the decision, people in Damascus took to the streets in celebration.
Ukraine has successfully completed the necessary procedures to implement its deal with the United States regarding the exploitation of minerals and the operation of a newly established investment fund, the country's First Deputy Prime Minister, Yulia Svyrydenko, confirmed on Tuesday.
The excitement of Eurovision 2025 continues, with the following countries securing a spot in the Grand Final on Saturday, May 17
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment