Kazakh-European trade and economic relations

Abstract

ABSTRACT This paper analyzes Kazakh-European trade and economic relations from 2012 to 2021, aiming to elucidate the dynamics, trends, and strategic implications of these bilateral interactions. The primary purpose of this research is to scrutinize the dynamics of Kazakhstan's trade and economic interactions with European countries, assessing the trends, challenges, and opportunities within this framework. Employing a methodology that combines analysis and synthesis, inductive and deductive reasoning, and statistical methods including ABC analysis in MS Excel, the study provides a comprehensive examination of Kazakhstan's trade volumes, exports, imports, and foreign direct investments with European countries. It was revealed that for the countries of Europe, the indicators of the volume of trade, exports, and imports, gross investments showed a greater drop than in the economy. Summarized information characterizing the institutional aspect of the formation of relations between Kazakhstan and European states highlights Kazakhstan's active participation in international organizations as a key driver in developing these relationships. The findings offer valuable insights for policymakers and business stakeholders, highlighting the need for strategic approaches in optimizing trade and investment relations between Kazakhstan and Europe.