The little-known Asian country of Kazakhstan wants to bolster the participation of Spanish companies in the diversification and modernization of its economy, especially in sectors such as the chemical industry, hydrocarbons, engineering, technology solutions, energy, logistics, and the agri-food sector.
This was stated by Rustam Karagoishin, chairman of the Board of Baiterek, Kazakhstan’s national investment holding, during the Spain-Kazakhstan Business Forum held in Madrid. The event was organized by the Spanish Chamber of Commerce, CEOE, and the Secretary of State for Trade, through ICEX Spain Export and Investments, to accompany the visit to Spain by a delegation led by Karagoishin.
“Kazakhstan is a main artery and the entry point to Central Asia. We boast a stable economy, a young population, and a solid foundation to advance in areas like industry, digitalization, energy, and logistics,” Karagoishin noted, who also explained that one of the country’s objectives is to create a large logistics industry for all of Central Asia. Baiterek is one of the leading instruments for investment and economic development in Kazakhstan, playing a strategic role in business financing, attracting private investment, and driving industrial, infrastructure, and agri-food projects.
A Cooperation With a Long Track Record
The president of Baiterek underscored that cooperation between Spain and Kazakhstan rests on solid foundations and he expressed his country’s interest in continuing to develop opportunities together. “We are not talking only about financing, but also about sharing risks and supporting the development of new projects,” he said. He also noted that Kazakhstan offers opportunities and special economic zones to facilitate investment, though he stressed that, “beyond capital, we are looking for trusted partners with whom we can build long-term relationships.”
Amparo López Senovilla, Secretary of State for Trade, recalled that “Kazakhstan is becoming a market with great potential for Spanish companies. The diversification of its economy opens up new opportunities for collaboration in areas such as energy, infrastructure, agribusiness, or digitalization. Spain already has leading companies present in the country, and we want to continue strengthening this relationship.” López Senovilla also emphasized that the visit by Kazakhstan’s main financial institution to Spain demonstrates mutual interest in continuing to widen collaboration and push new projects and investments that benefit both countries.
For their part, the president of the Spanish Chamber of Commerce, José Luis Bonet, highlighted the good relationship between the two countries and lauded the Spain-Kazakhstan Bilateral Business Council, defining it as “a dialogue tool particularly valuable for our business communities and a platform from which to drive new cooperation initiatives.” Bonet also drew attention to the opportunities offered by bilateral and European financing instruments, including the Global Gateway program. In this regard, he highlighted the development of the Trans-Caspian Corridor, which will enable new investments in transport, logistics, and connectivity infrastructure, areas of particular interest to Spanish companies.
The chair of the International Relations Committee at CEOE, Marta Blanco, emphasized that Kazakhstan’s strategic position, the availability of natural resources, and the progress achieved in recent years create a favorable framework for strengthening economic and business relations with Spain. “In this context, Baiterek is called to play a relevant role as a premier interlocutor for Spanish companies and as a driver of public-private collaboration,” Blanco stated.
The CEOE representative also noted that the efforts being made are yielding tangible results and creating fertile ground for cooperation between the public and private sectors. “Adding to this is a solid legal framework that facilitates investment and reinforces Kazakhstan’s appeal to Spanish companies,” she concluded.
During the meeting there was a round of introductions by the business delegations, followed by a discussion that allowed participating companies to talk directly with Baiterek representatives and exchange views on collaboration opportunities.
