The document is called to create conditions for establishing financial and technological cooperation of Kazakhstan with the industrial alliances of the EC
Kazakhstan and the European Union have entered into a memorandum of mutual understanding and strategic partnership in sustainable raw materials, renewable hydrogen and battery value chains, the PM's press office informed.
The document was signed by Prime Minister of Kazakhstan Alikhan Smailov and President of the European Commission Ursula von der Leyen on the sidelines of the COP27 Summit in Egypt.
"The document is called to create conditions for establishing financial and technological cooperation of Kazakhstan with the industrial alliances of the EC. In general, Kazakhstan is an attractive country for European business, for its diversified energy sources and high transit and transport potential," Alikhan Smailov said.
He added that the European Union remains one of the largest and most important trade partners of Kazakhstan, which accounts for 30% of the country’s foreign trade volume.
In turn, Ursula von der Leyen noted that the European Union is one of the largest investors of Kazakhstan’s economy and the memorandum signed will let expand these relations.
"We are basically opening a new chapter in our already deep relationship. The European Union and Kazakhstan have developed strong economic ties over the years. Together, we will work to better integrate our strategic value chains related to raw materials, to batteries and to renewable hydrogen," she said.
These value chains are very important engines to power the green and the digital transition worldwide, she noted.
"We know for example how important batteries are to electrify our economy, for example for electric vehicles or the storage of renewable energy, so there is a great demand for that," Ursula von der Leyen said and added that the memorandum of mutual understanding aims at development of long-term partnership relations.
Photo: primeminister.kz.
