BUCHAREST, Romania: The 17th meeting of the Intergovernmental Commission for Trade-Economic and Scientific-Technical Cooperation between Kazakhstan and Romania convened in Bucharest, co-chaired by Kazakhstan’s Minister of Energy Almasadam Satkaliyev and Romania’s Minister of Energy Sebastian Burduja.
Representatives from various sectors including agriculture, transport, and labor authorities participated in the event, as reported by the Kazinform News Agency.
Discussions during the meeting centered on exploring opportunities for economic collaboration across multiple domains. Both parties agreed to establish a joint working group aimed at enhancing bilateral cooperation and facilitating mutual investments in the energy sector. Additionally, Romanian companies expressed interest in collaborating with Kazakhstan, particularly in the supply of equipment for the oil and gas industry.
Efforts to further negotiations on cooperation in chemical and metallurgical sectors were also emphasized, along with encouraging participation of companies from both countries in auction bidding for Renewable Energy Source (RES) projects in Romania and Kazakhstan.
In the transport sector, plans were laid out to leverage the potential of the Trans-Caspian International Transport Route, with the establishment of a working group on transport cooperation slated for completion by the end of the first quarter of 2024.
Discussions also touched upon cooperation prospects in agriculture, culture, tourism, labor, and social protection. Minister Satkaliyev’s visit to Romania included inspections of key energy infrastructure such as the Rompetrol Valcele fueling station and Petromidia oil refinery. Meetings were held with top executives of Nuclearelectrica and RomGas, with Nuclearelectrica expressing readiness to share expertise in nuclear energy and social aspects of its development.
Trade figures revealed a positive trend, with commodity turnover between Kazakhstan and Romania reaching $2.9 billion in 2023, representing an 8.5% increase compared to 2022. Kazakhstan’s exports to Romania saw a 10.1% surge, reaching $2.8 billion, while imports decreased by 21.1% to $112.2 million. The collaborative landscape is underscored by the presence of 28 Kazakh-Romanian joint enterprises, predominantly in the oil and gas sector, reflecting the depth of economic ties between the two nations.
