(MENAFN- Trend News Agency)
BAKU, Azerbaijan, July 31. Italy is considering
participation in petrochemical projects and the construction of
fuel plants in Kazakhstan, Marco Beretta, President of the
Italo-Kazakh Trade Association (ACIK), said in an exclusive
interview with Trend .
"Kazakhstan's potential to increase its presence in the European
energy market is substantial. The country is rich in energy
resources, particularly crude oil, which is a major export to
Italy. Italy, in turn, can benefit from a stable and diversified
energy supply from Kazakhstan, which helps ensure energy security.
Moreover, collaboration in the energy sector can be expanded to
include renewable energy projects, enhancing both countries'
commitments to sustainable development. As future projects, we are
considering the possibility of participating in projects on
petrochemicals, energy production from waste, and the construction
of fuel plants," he said.
He pointed out that these projects are in line with the chosen
agenda to diversify energy production in Kazakhstan.
"But our goal is even further, in all sectors where we have
potential. Our companies successfully support projects involving
renewable energy sources and strive to strengthen cultural
relations. A striking example of this is the exhibition of Leonardo
da Vinci's painting La Bella de Prinicpessa in Astana these days.
Italian companies willingly participate in this kind of activity
and are ready to help strengthen the economy of Kazakhstan," Marco
Beretta noted.
Horizons for cooperation in the renewable energy
field
As the ACIK President noted, the cooperation between Kazakhstan
and Italy in boosting renewable energy capacities is very
encouraging.
"Italian companies like Eni Plenitude are already involved in
significant green projects in Kazakhstan. This collaboration
supports Kazakhstan's energy transition and helps Italy meet its
sustainability goals. There are ongoing discussions about several
major green projects, which include investments in wind and solar
energy, and these initiatives will likely expand in the coming
years as both countries strengthen their commitments to renewable
energy," he said.
Marco Beretta highlighted that Kazakhstan's government has set
ambitious targets for renewable energy: By 2030, the goal is to
generate 30 percent of the country's electricity from renewable
sources.
"These targets are supported by various policies, including
feed-in tariffs, tax incentives, and government-backed financing,
which make the country an attractive destination for renewable
energy investments. Further cooperation between Kazakhstan and
Italy in the renewable energy sector looks highly promising. With
Kazakhstan's ambitious renewable energy goals and Italy's
technological expertise, particularly through companies like Eni
Plenitude, there is a significant potential for developing
large-scale green projects. This collaboration not only supports
Kazakhstan's energy transition but also contributes to global
efforts to combat climate change," he pointed out.
Expanding the Middle Corridor's capacity
Marco Beretta pointed out that the development of Kazakhstan as
a transit hub between China and Europe, particularly through the
Middle Corridor, holds significant potential for enhancing cargo
transportation to Europe, including Italy.
"This route can reduce transit times and costs, making trade
more efficient. Italian companies are well-positioned to
participate in the expansion of this route, bringing their
expertise in logistics and infrastructure development to support
Kazakhstan's efforts. The increased connectivity can facilitate
trade and economic cooperation, benefiting both countries.
Kazakhstan's strategic location as a transit country between China
and Europe makes it a pivotal player in international cargo
transportation. The development of transport infrastructure,
particularly the Middle Corridor, presents significant
opportunities for enhancing cargo transportation to Europe,
including Italy. Italian companies have a lot of international
players in the cargo field who should certainly participate in the
implementation of the project. This will also stimulate joint trade
relations with Kazakhstan and attract investment," he said.
New areas for collaboration
Marco Beretta noted that several major joint projects are being
planned or considered for implementation between Italian and Kazakh
companies.
"These include collaborations in sectors such as infrastructure,
machinery, pharmaceuticals, and renewable energy. For instance,
projects in the field of infrastructure development and the
modernization of industrial facilities are key areas where Italian
expertise can greatly contribute to Kazakhstan's growth. Many
projects are already in the implementation stage. We are opening
new areas for cooperation, and one of them is cooperation between
the Kazakhstan Dolce Pharma company and Italian manufacturers and
sellers of medical devices and pharmaceutical products. However, in
my opinion, they need to be announced after the start of
implementation. In my opinion, it is better to talk about projects
that have been started and where work has begun. As part of the
joint business forum, we will identify them all. The heads of our
states have set appropriate tasks, and we are working on them," the
ACIK President said.
Marco Beretta went on to add that the prospects for trade and
economic cooperation between Kazakhstan and Italy are very
promising.
"Both countries have committed to deepening their strategic
partnership and diversifying economic relations beyond traditional
sectors like energy. This includes exploring opportunities in
creative industries, tourism, and addressing climate and
environmental issues," he said.
As Beretta noted, Italy's technological expertise and investment
in various sectors can significantly benefit Kazakhstan's economic
diversification and modernization efforts.
"Moreover, Kazakhstan's agricultural sector has significant
potential for growth and modernization, and Italy's advanced
agricultural technologies can play a crucial role. Italian
companies can help improve productivity and quality in Kazakh
agriculture through innovations in irrigation, farming equipment,
and food processing. Thanks to the ongoing economic and political
reforms of President Tokayev, which he spoke about during his visit
to Italy at the beginning of the year, European business is opening
Kazakhstan from a new side as a reliable partner in the region. In
this regard, Italian companies have a great advantage since they
have been present in this country for a long time and have
successfully implemented projects," he said.
Marco Beretta pointed out that ACIK is confident that it will be
able to expand the presence of Kazakh companies in Italy in the
near future.
"To strengthen our relationship, we use all possible formats;
one of them is the Kazakh-Italian business forum, which is held
annually in Milan and which will take place this year on October
7-8 of this year," he noted.
In addition to this, the ACIK President noted that sectors such
as healthcare, technology, and education offer significant
opportunities for partnership.
"Italy's interest in these sectors is driven by the potential
for mutual growth and the opportunity to leverage Italy's
technological and industrial strengths to support Kazakhstan's
development goals. We involve companies in all sectors; we talk
about potential sectors for investment with Italian companies. In
my opinion, all of them can bring profit to both sides. For this,
we have developed a special project called Road to Qazaqstan; this
is a branded special truck that will travel through the cities of
Italy and introduce companies located in the regions of Italy to
the wonderful opportunities and natural beauties of Kazakhstan," he
said.
Trade turnover dynamics
Marco Beretta pointed out that the trade turnover between Italy
and Kazakhstan has undergone significant changes in the first
quarter of 2024 compared to the same period in 2023.
"The overall foreign trade turnover of Kazakhstan decreased by
5.6 percent, amounting to $31.2 billion from January to March 2024.
This decline was influenced by a 1.9 percent drop in exports and a
10.6 percent fall in imports. Despite this overall decline, the
trade turnover between Kazakhstan and Italy has shown resilience
and growth in recent years, reaching $13.1 billion in 2023,
slightly higher than the previous year. Kazakhstan's exports to
Italy mainly consist of crude oil, which continues to be a
significant component of the trade volume. Additionally, there has
been a notable development in tourism relations this year. A
striking example of this is the opening of direct flights between
Milan and Almaty by Neos Airlines, as well as the opening of the
travel company Tomiris Tour," he concluded.
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