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Central Asia-Italy Summit: Significant Milestone in Strengthening Economic Ties
Italy and Central Asian nations took a significant step towards deepening their economic partnership during the first "Central Asia-Italy" summit held at Astana's Independence Palace on May 30, 2025. The summit, attended by leaders from all five Central Asian republics and Italy's Prime Minister, aimed to forge a comprehensive partnership that transcended trade dynamics.
Kazakhstan, one of Italy's major economic partners in the region, witnessed a surge in trade volumes with Italy in 2024, reaching approximately $20 billion. The growth was predominantly driven by Kazakh oil exports to Italy, which accounted for around $18 billion of the total figure. Italy has also invested significantly in Kazakhstan, with over $7.6 billion invested over two decades, and more than 270 Italian companies currently operating in the country.
The summit provided an opportunity to discuss key areas of engagement, such as energy, digitalization, logistics, culture, agriculture, ecology, security, and investment. leaders focused on topics like oil and critical mineral resources, digital cooperation, logistics and transport infrastructure, and water management projects, among others.
Italy's objectives extend beyond a transactional relationship, with plans to establish itself as a key European player and standalone strategic partner in the region. The country aims to leverage its strengths in technology, energy, and investment to build enduring ties that reach beyond the traditional powers of Russia and China.
The outcome of the summit included a Joint Declaration on strengthening strategic partnerships, signaling mutual commitment to expand cooperation across various sectors. The collaboration envisioned encompasses green and sustainable development, digital innovation, and enhanced trade and transit connectivity, suggesting a long-term comprehensive approach.
Italy's emergence as a pivotal partner in Central Asia's trade and economic landscape has significant implications for the region's future economic collaboration. The first Central Asia-Italy summit sets the stage for a more integrated and strategic partnership, reflecting the shared desire for diversified partnerships and balancing relationships with various global powers.
I, as an investor, am keen on exploring opportunities in the growing business partnership between Central Asia and Italy, particularly in Kazakhstan due to its significant trade volumes and Italian investments. During the Central Asia-Italy summit, I aim to discuss potential finance opportunities in areas such as energy, digitalization, and logistics, with the goal of building long-term strategic partnerships.
