Kazakhstan and Croatia Strengthen Economic Ties

Bauyrzhan Kudaibergenov, the Vice Minister of National Economy of the Republic of Kazakhstan, and a delegation from the Republic of Croatia, led by Croatian Parliament member Zvonimir Troskot, held a high-level meeting to discuss the development of trade and economic cooperation.

The bilateral talks also involved Vera Kim, a member of the Majilis of the Parliament of the Republic of Kazakhstan, the Ambassador Extraordinary and Plenipotentiary of the Republic of Croatia to Kazakhstan, Refik Šabanović, as well as members of the Croatian Parliament, The Caspian Post reports citing Trend.

In the course of the meeting, the parties expressed satisfaction with the current level of Kazakhstan-Croatia relations, emphasizing mutual interest in further developing trade and economic cooperation. Special attention was given to increasing the volume of bilateral trade and implementing investment projects.

Vice Minister Bauyrzhan Kudaybergenov noted the significant potential for a multiple increase in trade turnover between Kazakhstan and Croatia over the next five years. He provided detailed information on the priorities of the Government of Kazakhstan in diversifying the economy, highlighting the update of the Investment Policy Concept until 2029. The new approach under this concept focuses on attracting investments based on the specific needs of various sectors.

Head of the Croatian delegation Zvonimir Troskot confirmed the country’s interest in expanding cooperation with Kazakhstan in such strategically important areas as the oil and gas industry, energy, agriculture, and transportation, as well as deepening trade and investment ties.

The parties agreed to further strengthen cooperation and expressed their readiness to maintain regular contacts to expand mutually beneficial partnerships. The Ministry of National Economy of the Republic of Kazakhstan functions as the working body of the Kazakhstani side of the Kazakhstan-Croatia Intergovernmental Commission on Economic Cooperation.

The trade turnover between Kazakhstan and Croatia in 2024 reached $282 million, of which $254 million - exports from Kazakhstan to Croatia and $28 million - imports from Croatia to Kazakhstan.