Kazakhstan and Sweden have taken a major step toward expanding economic ties by creating their first bilateral commission dedicated to trade, investment and industrial cooperation.

The agreement was signed during a meeting between Kazakhstan’s Minister of Industry and Construction, Yerssaiyn Nagaspayev, and Sweden’s State Secretary for International Development Cooperation and Foreign Trade, Diana Janse, who visited Astana for the Astana Mining & Metallurgy Congress, The Caspian Post reports via Kazinform.

The newly established Kazakh-Swedish Bilateral Commission for Trade-Economic and Investment Cooperation is designed to strengthen collaboration between government agencies, businesses, financial institutions and research organizations in both countries.

Nagaspayev described Sweden as one of Kazakhstan’s most promising partners in industry and technology, emphasizing the need to transform existing cooperation into a broader, project-focused partnership.

Sweden also signaled growing interest in Kazakhstan’s market. Janse highlighted the country’s favorable investment climate and strong potential for Swedish companies seeking new opportunities in Central Asia.

The announcement comes as Kazakhstan continues to deepen economic cooperation with European partners. Earlier, Kazakhstan and the Netherlands agreed to implement joint projects worth €160 million.