EU-Kazakhstan Enhanced Partnership and Cooperation Agreement

European-Union-flags-007On 12 September 2014 in Astana, the European Union and the Republic of Kazakhstan  successfully concluded the negotiations of the EU-Kazakhstan Enhanced Partnership and  Cooperation Agreement. The President of the European Commission Mr Jose Manuel  Barroso and the President of Kazakhstan Mr Nursultan Nazarbayev will meet in Brussels on 9  October 2014 to confirm the conclusion of negotiations.

This is an important moment both for the EU and Kazakhstan as the new Agreement will significantly deepen political and economic ties between the two sides for the benefit of the people of both Kazakhstan and Europe.

Objectives and content of the Enhanced Partnership and Cooperation Agreement

The EU-Kazakhstan Enhanced Partnership and Cooperation Agreement counts about 280 pages and is comprised of 9 Titles as follows: General Principles and Aims of this Agreement; Political Dialogue, Cooperation in the Field of Foreign and Security Policy; Trade and Business; Cooperation in the Area of Economic and Sustainable Development; Cooperation in the Area of Justice, Freedom and Security; Other Cooperation Policies; Financial and Technical Cooperation; Institutional Framework; and General and Final Provisions.

Kazakhstan is the first Central Asian partner to have concluded an Enhanced Partnership and Cooperation Agreement with the EU. The new Agreement will replace the Partnership and Cooperation Agreement in force since 1999, and will give EU – Kazakhstan relations a new up-to-date and stronger foundation.

Over the past decades, the EU has become Kazakhstan’s first trading partner and first foreign  investor, representing over half of total FDI in Kazakhstan. Bilateral trade amounts to above  31 billion EUR, from which 24 billion EUR is Kazakhstan’s exports, notably oil, while about 7,5  billion EUR is EU exports to Kazakhstan, mainly manufactured goods, machinery and equipment.

Details here.

 

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