Exploring Trade Opportunities Between Benelux and Kazakhstan
BeNeLux-Kazakhstan Trade Talks Boost Economic Collaboration
The BeNeLux-Kazakhstan Trade Talks held on Feb. 15 at Nazarbayev University Graduate School of Business marked an important step towards enhancing ties and exploring new opportunities for economic partnership between the BeNeLux countries and Kazakhstan.
Organized by the BeNeLux Chamber of Commerce, QazTrade Trade Policy Development Center, and Nazarbayev University Graduate School of Business, the forum focused on crucial aspects of trade and investment relations. The event brought together distinguished speakers, including Henri Vantieghem, Ambassador of the Kingdom of Belgium in Kazakhstan, and Nico Schermers, Ambassador of the Kingdom of the Netherlands in Kazakhstan, who shared valuable insights.
Ambassador Vantieghem emphasized the significant potential to develop the Middle Corridor between the BeNeLux region and Kazakhstan, highlighting the strategic logistics hubs near Maastricht and the ease of connectivity from BeNeLux to various European countries. He underlined the importance of unified norms and standards, particularly in agriculture, and expressed optimism about Kazakhstan’s progress in adopting new laws.
Ambassador Schermers acknowledged the challenges in logistics and emphasized the need for a stable legal system, transparency, and adherence to human rights to attract businesses and foster trade relationships. He also pointed out the growing interest in sunflower production in Kazakhstan and stressed the need for clear regulations and legal frameworks to instill confidence in investors.
The panel discussion on trade cooperation delved into opportunities for collaboration between BeNeLux countries and Kazakhstan. President Denis Van den Weghe noted the chamber’s commitment to facilitating joint research collaborations and promoting diversified trade opportunities between the BeNeLux region and Kazakhstan. The panel also highlighted the significant role of rare materials and crude oil in the trade relationship between Kazakhstan and BeNeLux countries.
The trade turnover between Kazakhstan and BeNeLux countries, particularly Belgium and the Netherlands, reflects a strong economic partnership. In 2023, trade turnover between the Netherlands and Kazakhstan reached $4.4 billion, with substantial investments in crucial sectors such as technology and infrastructure. Similarly, Belgium’s bilateral trade turnover with Kazakhstan stood at $523.7 million, indicating a growing economic partnership.
The inaugural BeNeLux-Kazakhstan Trade Talks set the stage for enhanced economic collaboration and laid the foundation for a more robust trade relationship between the BeNeLux countries and Kazakhstan.
