Kazakhstan and Austria Strengthen Strategic Partnership with Diverse Economic Relations
Kazakhstan and Austria Strengthen Economic Cooperation through 12th IGC Session
ASTANA – Kazakhstan and Austria are solidifying their partnership through enhanced economic cooperation, as emphasized during the 12th session of the Intergovernmental Commission (IGC) on Economic, Agricultural, Environmental, Industrial, Technical, and Technological Cooperation held on April 24.
Co-chaired by Kazakh Deputy Foreign Minister Roman Vassilenko and Austrian Director General for Economics, Innovation and International Cooperation of Ministry for Economics, Energy, and Tourism Florian Frauscher, the meeting focused on diversifying bilateral trade, attracting investment, and exploring joint opportunities in energy, digitalization, transport, and agriculture.
During the session, Vassilenko briefed the Austrian delegation on the ongoing reforms in Kazakhstan, expanding cooperation with the European Union, and specific measures taken to ensure economic diversification and a favorable environment for attracting foreign investments and conducting business in the country, according to the Foreign Ministry’s press service.
Since the inaugural meeting of the IGC in Vienna in 2009, the joint commission has played a crucial role in strengthening trade and investment connections between Kazakhstan and Austria. Highlighting the strong level of bilateral partnership and the successful operations of Austrian companies in Kazakhstan such as Andritz Hydtro, PlanRadar, and others, Vassilenko called for increased business collaboration between the two countries.
Frauscher recognized Kazakhstan as a key partner for Austria in Central Asia and expressed interest in enhancing cooperation across all priority areas with Kazakhstan.
The delegations discussed opportunities for collaboration in energy, renewables, mining, transport, agriculture, healthcare, tourism, and digitalization sectors. They agreed to continue sharing information on potential mutually beneficial projects, promote regional and commercial links, and facilitate visits of business delegations between the two countries to enhance bilateral trade and economic cooperation.
Officials also identified opportunities to foster regional partnerships within the framework of memorandums on cooperation between the East Kazakhstan Region and Styria, the Turkistan Region and Carinthia, and the Pavlodar Region and Upper Austria.
Simultaneously, the 10th Kazakh-Austrian Business Council meeting took place in the Kazakh capital to showcase Kazakhstan’s investment potential and discuss engagement in machinery, agriculture, and other industries.
According to Kazakh statistics, in 2024, the Kazakh-Austrian trade amounted to $280.8 million, with exports totaling $4.1 million and imports at $276.7 million. The gross inflow of investment from Austria to Kazakhstan in 2024 reached $20.7 million, exceeding a total of $3 billion since 2005. Kazakhstan currently hosts around 180 enterprises with Austrian capital participation.
Overall, the 12th IGC session highlighted the commitment of Kazakhstan and Austria to deepen their economic cooperation and explore new avenues for partnership in various sectors for mutual benefit.
