Ursula von der Leyen – 2022 Statement on the Occasion of the Signature of the Memorandum of Understanding with Kazakhstan

The statement made by Ursula von der Leyen, President of the European Commission, on 7 November 2022.

Thank you very much Prime Minister Smailov,

It is a great pleasure for me to sign with you this important Memorandum of Understanding between Kazakhstan and the European Union. We are basically opening a new chapter in our already deep relationship. The European Union and Kazakhstan have developed strong economic ties over the years. The European Union is by far the largest foreign investor in Kazakhstan, with 60% of the stock of foreign direct investment. The Memorandum of Understanding we have just signed will now further expand this relationship and align it with the shared priorities of both parties.

Together, we will work to better integrate our strategic value chains related to raw materials, to batteries and to renewable hydrogen. These value chains are very important engines to power the green and the digital transition worldwide. We know for example how important batteries are to electrify our economy, for example for electric vehicles or the storage of renewable energy, so there is a great demand for that. Or if we take hydrogen: As European Union, we are determined to reach climate neutrality by 2050 and we have ambitious plans to move away from fossil fuels. And there, hydrogen will play a major role to be one of the big sources of renewable energy that we will need. We know that all of this requires an appropriate amount of specific raw materials, and in particular minerals of which Kazakhstan is so rich. So raw materials and renewable hydrogen are not only essential building blocks for our sustainable future but also for our shared prosperity.

Finally, to be successful in the long term, MoUs must be rooted in ambitious, long-term partnerships that align well with the values of both parties. The Memorandum of Understanding that we have just signed is exemplary in this respect. First of all, because it emphasises that our cooperation must help align our high environmental, social and governance standards. Second, because it foresees that Kazakhstan and the European Union will for example cooperate on research and innovation, on the formation of skills, or on capacity building. And finally, because this will also attract private capital to these investments, the value chains we are developing together in Kazakhstan will serve the whole world. Because, of course, it is not exclusively for the European Union but it is open to everybody. And these value chains will be much needed worldwide.

Let me conclude by emphasising that today is the first step in our common journey. The real work starts now. We will take stock in six months, by which time we aim to have designed an operational roadmap, in partnership with our Member States, with industry and with the stakeholders.

So Prime Minister, I am very much looking forward to the next steps. And many thanks for being here with us today.