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Marat Terterov comments on Kazakhstan's Annual State of the Union address

28 September 2023

Dr Marat Terterov, an expert from the Brussels Energy Club, shared his insights on the message of the President of the Republic of Kazakhstan, Kassym-Jomart Tokayev, with a Kazinform correspondent.

Terterov noted that the President's address outlines new directions for cooperation between the European Union and Kazakhstan, particularly in the energy sector.

Terterov highlighted the alignment between Kazakhstan's development trends, especially in the energy sector, and global developments, such as renewable energy, decarbonization, and increased energy efficiency. He emphasized that Kazakhstan's commitment to these international standards could enhance political relations and attract quality investments from the European Union.

The expert commended Kazakhstan's focus on ESG (environment, social, governance) standards and private capital involvement in green technologies. He saw this as a timely adaptation to international trends, emphasizing Kazakhstan's path toward modernization and alignment with modern international standards.

Terterov also pointed out Kazakhstan's pursuit of decarbonization, including the trading of greenhouse gas emissions and green certificates. He noted that President Tokayev's emphasis on these trends also supported the country's banking sector reforms from the 90s and early 2000s.

Terterov predicted that President Tokayev's message would be positively received in Brussels and Washington, highlighting the potential for closer cooperation between the European Union and Kazakhstan, particularly in the fields of green energy and decarbonization. However, he acknowledged that successful implementation of the message would be the next crucial step.

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