New Year welcomes stronger ties between Kazakh government and Italian investors

MILAN -- As global competition to secure access to critical minerals intensifies, Kazakhstan and Italy have announced joint plans to strengthen diplomatic ties and expand cooperation beyond the energy sector, signaling a new phase in economic and industrial relations between the two nations.

The renewed momentum follows a series of diplomatic talks held in Rome in October, led by Kazakh Foreign Minister Yermek Kosherbayev. This event brought together senior executives from leading Italian energy and engineering companies in an effort to explore opportunities for new investment, industrial projects and technological innovation. Although the critical mineral sector remains a cornerstone of bilateral relations, representatives on both sides have continued to emphasise the significance of greater diversification into manufacturing, engineering and tech sectors. 

This push for broader cooperation was reinforced by official talks between President Kassym-Jomart Tokayev of Kazakhstan and Italian President Sergio Mattarella in Astana. This marked the first official trip of an Italian Head of State to Kazakhstan, a significant milestone in bilateral relations.

Welcoming the Italian president at the Akorda Presidential Residence, Tokayev announced that the visit would ‘open a new chapter’ in relations amid a rapid growth in western financial interest in investment in Central Asia. Addressing Italian and Kazakh media outlets, Tokayev outlined several promising industries for bilateral investment, including transport and logistics, tourism and education. As Western sanctions on Russia continue to reshape regional trade and investment patterns, Central Asian states are benefiting from increased interest from critical minerals corporations seeking alternative partnerships.

‘Italy remains one of Kazakhstan’s top three trading partners. Over the past 20 years, Italy has invested up to 7.6 billion dollars in our economy. Around 250 Italian companies are operating in Kazakhstan’, Tokayev said.  

Although the talks included gestures toward cultural exchange, most notably the opening of the first Italian Cultural Center in Central Asia in Astana, such initiatives remain secondary to the economic drivers shaping bilateral relations. Italo-Kazakh cooperation continues to be dominated by the extraction and procurement of critical raw materials, reflecting broader global competition for secure supply chains.

Against this backdrop, Kazakhstan’s petrochemical and mechanical engineering sectors are attracting increased foreign interest as investors seek alternatives to traditional suppliers amid rising geopolitical tensions and security concerns. For established investors, Kazakhstan’s reserves of oil, uranium and gold offer a comparatively stable and attractive option, particularly as risks grow in parts of East Africa and South America. 

At the same time, the expansion of Western influence throughout the region through educational and cultural institutions, alongside deeper diplomatic and security cooperation, has prompted debate over Kazakhstan’s long-term political and economic autonomy. Critics question whether increased foreign capital will translate into broader national prosperity, or primarily benefit external investors, potentially shifting economic stability away from domestic control.