The European Union and Kazakhstan have signed a memorandum of understanding in the field of sustainable raw materials, batteries, and green hydrogen, according to the press service of Kazakhstan’s prime minister.
The document has been signed by Prime Minister Alikhan Smailov and President of the European Commission Ursula von der Leyen, who held a bilateral meeting during the U.N. Climate Change Conference (COP27) in Egypt.
Smailov noted that the E.U. is one of the largest trade partners for Kazakhstan and accounts for 30% of the country’s external trade. In turn, Ursula von der Leyen confirmed that the E.U. is one of the biggest investors in Kazakhstan.
Over the first nine months this year, the turnover between Kazakhstan and the E.U. reached $20.8 billion, a 18.4% increase over the same period last year.
Earlier this month President Kassym-Jomart Tokayev met with President of the European Council Charles Michel. They have come to an arrangement that the E.U. will support the construction of the green hydrogen production plant in the Mangystau region.
According to Roman Sklyar, deputy prime minister, the hydrogen will be produced with the help of wind and solar power stations that will be built under the project as well. It is expected that the hydrogen plant will supply its products to both domestic and international clients.