Trade between Kazakhstan and EU countries reached nearly $50bn in 2024, making up 80% of the EU’s total trade with Central Asia. This highlights the growing economic partnership between Kazakhstan and the European Union.
On the sidelines of the Central Asia – EU Summit, President Kassym-Jomart Tokayev of Kazakhstan met with António Costa, President of the European Council, to explore ways to further deepen and broaden their strategic cooperation.
The EU remains Kazakhstan’s largest trading partner and foreign investor, accounting for over 40% of the country’s total foreign direct investment (FDI).
During the meeting, Tokayev and Costa discussed prospects for strengthening cooperation across various sectors of the economy. Both leaders emphasized the importance of continuing the dynamic development of the partnership, grounded in mutual trust, shared strategic interests, and long-term prospects.
EU-Kazakhstan Partnership
The European Union and Kazakhstan have enjoyed a partnership since Kazakhstan’s independence in 1991. In December 2015, they signed the Enhanced Partnership and Cooperation Agreement (EPCA), the first such agreement between the EU and a Central Asian country.
This milestone strengthened their bilateral relations after over 25 years of cooperation. The EPCA, ratified by all EU Member States and the European Parliament, came into effect on March 1, 2020. It facilitates closer cooperation in areas like trade, investment, justice, energy, transport, climate change, employment, culture, and education.
In 2023, the EU became Kazakhstan’s top trading partner, accounting for 28% of its external trade.
