Strengthening Economic Ties: Kazakhstan-Slovenia Business Forum Fosters Collaboration in Logistics, Energy, and IT Sectors

ASTANA - In the spirit of forging strong and egalitarian political and diplomatic ties, Kazakhstan and Slovenia have been playing a dance of economic cooperation for the past 30 years. This passionate partnership was recently reaffirmed by both Presidents during their discussions, as Kazakh President Kassym-Jomart Tokayev announced at an April business forum.

photo credit: Akorda

Tokayev warmly welcomed Slovenian President Nataša Pirc Musar and forum participants, sharing Kazakhstan's economic might. Last year, the country achieved an impressive economic growth rate of 4.8%, far exceeding the global average. With a GDP of $288 billion, Kazakhstan is determined to sustain its strong growth via robust political and economic reforms.

Enterprising Logistics

As a strategic crossroads of Eurasia, Kazakhstan aspires to be the continent's leading trade and logistics hub. With direct access to a market of over 1.5 billion consumers, the country offers unparalleled opportunities for partners. In 2021, the volume of cargo transported through Kazakhstan reached a record high of 514 billion ton-kilometers, noting a 2.6% increase from the previous year. Moreover, Kazakhstan currently handles a staggering 90% of all overland trade between Europe and China, making it an essential artery of global commerce.

The country's ambitions don't stop at land transportation. Kazakhstan's seaports, notably Aktau and Kuryk, facilitate cargo transit across the Caspian Sea, reaching a record 4.5 million tons of cargo transported in 2021 alone (a 62% increase from the 2.5 million tons in 2023). Kazakhstan is eager to collaborate with the Port of Koper, Slovenia's largest port, to further strengthen connectivity and trade facilitation.

Industrial and Energy Embrace

Industrial and energy collaboration represents a promising avenue for strengthening bilateral relations. Almost 70% of Kazakhstan's oil exports are destined for the European Union, and the country boasts significant reserves of natural gas and coal. Kazakhstan is one of the world's top ten coal reserves, with deposits totaling 34 billion tons. Additionally, the nation is a critical source for 19 of the 34 rare earth elements indispensable to the European Union's economy.

Kazakhstan remains open to investments and cutting-edge technologies, attracting renowned global companies like French Total, Italian Eni, UAE's Masdar, and the German-Swedish Svevind Energy Group to its expanding renewable energy sector. Welcoming Slovenian companies such as Iskra and Gorenje in the market, Kazakhstan encourages further collaboration in industrial automation, smart technologies, and sustainable production.

Agro-Industrial Evolution

With a focus on agriculture as a key tool to address global food security issues, Kazakhstan exports agricultural products to over 70 countries worldwide. Tokayev proposed a promising joint venture with Slovenian partners to modernize its agro-industrial complex, aiming to transform it into a self-reliant, high-tech sector. In particular, Kazakhstan seeks collaboration with Slovenian industry leaders such as Krka and Lek companies for domestic production expansion and enhanced technological capabilities.

Tech-Savvy Partnerships

Tokayev invited Slovenia's dynamic and innovative IT sector to collaborate in scientific research, startups, and technological education. Emphasizing the importance of financial services and investments, he encouraged Slovenian businesses to explore the opportunities provided by the Astana International Financial Centre (AIFC) and become a valuable addition to its thriving ecosystem.

A promising Future

The relationship between Kazakhstan and Slovenia has been marked by strategic location, rich resources, robust trade, and diverse economic collaborations - elements that will undoubtedly guide both countries towards a successful and prosperous future. The potential for logistics, IT, energy, and industrial growth is exponential and awaits the ambitious partnerships that leaders like Tokayev and Pirc Musar advocate. Keep your eyes on these nations as they continue to weave their economic tapestry of mutual growth and shared prosperity.

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Note: This article's content might not reflect the current, specific status of economic cooperation between Kazakhstan and Slovenia. For detailed insights, further research or direct engagement with relevant government or business sources is recommended.

Kazakhstan's President, Kassym-Jomart Tokayev, expressed interest in strengthening the country's partnership with Slovenia, particularly in the energy industry, as Kazakhstan possesses significant reserves of oil, natural gas, and coal, and is one of the world's top ten coal reserves with deposits totaling 34 billion tons.
To boost the automation sector, Kazakhstan invites Slovenian companies like Iskra and Gorenje to collaborate, welcoming their expertise in industrial automation, smart technologies, and sustainable production.
In terms of finance, Tokayev encourages Slovenian businesses to explore opportunities at the Astana International Financial Centre (AIFC), hoping to form valuable partnerships and contribute to the thriving ecosystem.
Looking towards the future, the government of Kazakhstan aims to transform its agro-industrial complex into a self-reliant, high-tech sector by partnering with Slovenian industry leaders Krka and Lek for domestic production expansion and enhanced technological capabilities, addressing global food security issues.