President Kassym-Jomart Tokayev of Kazakhstan concluded a two-day state visit to France on 5 November 2024. The visit resulted in the signing of a comprehensive package of 36 documents, including 14 commercial agreements valued at $2.2 billion.
The set of documents also includes 1 intergovernmental and 21 interdepartmental agreements.
One of the landmark documents signed in the presence of President Kassym-Jomart Tokayev and President of France Emmanuel Macron was the Roadmap for Strategic Partnership between Kazakhstan and France on Critical Resources and Materials.
“Since global demand for critical raw materials will increase fourfold by 2040, Kazakhstan can become a reliable supplier for French and European industry,” Tokayev said, speaking at an investment round table in Paris with the participation of French business giants such as Vicat, Total Energies, Alstom, Orano S.A., Air Liquide, EDF, et al.
Kazakhstan is a significant producer of critical raw materials essential to the EU economy. The country currently extracts 19 out of 34 crucial raw materials, including titanium, copper, magnesium, and scandium. Additionally, Kazakhstan has abundant reserves of rare earth minerals like lithium, beryllium, and tantalum, which are crucial for high-tech and eco-friendly industries.
In addition to the Roadmap, agreements were signed in the fields of energy, transport, culture and other areas:
• Agreement between the Government of the Republic of Kazakhstan and the Government of the French Republic on readmission;
• Partnership agreement on strategic cooperation between JSC NWF Samruk-Kazyna and Société Generale S.A.;
• Agreement on strategic cooperation on 6-axle electric locomotives between JSC National Company Kazakhstan Temir Zholy and Alstom Transport SA;
• Protocol of the agreement on cooperation in the field of archaeology between the A.H.Margulan Institute of Archaeology and the National Institute for Preventive Archaeological Research (INRAP).
Kazakhstan is a key trade, economic, and investment partner for France in Central Asia. The country now accounts for over 80% of France’s trade within the region.
France holds the sixth position in terms of investment in Kazakhstan. Major French companies like Alstom, TotalEnergies, Air Liquide, Orano, Vicat, Danone, and Lactalis have invested significantly in the Kazakh economy, totaling around $19.5 billion. In 2024 alone, direct French investments reached nearly $900 million.
More than 200 French companies operate within the Kazakh market. In 2023, bilateral trade between the two nations amounted to $4.2 billion. ///nCa, 6 November 2024