Europe - Caspian Briefing, November 3 , 2026

 

Energy and Economy

French Companies Plan €1.5 Billion in New Investment in Kazakhstan

French companies operating in Kazakhstan plan to invest €1.5 billion and create more than 1,000 jobs over the next three years, according to a study presented by the French Embassy in Astana on 22 October. The study highlights Kazakhstan's growing role as a regional business and production hub, with 38 percent of surveyed companies using the country as their main operational centre in Central Asia and 25 percent coordinating activities in the Caucasus from Kazakhstan. Bilateral trade between France and Kazakhstan exceeded €5 billion in 2025, while cumulative French investment surpassed €12 billion. France’s Ambassador to Kazakhstan Sylvain Guiaugue highlighted the Middle Corridor's growing importance for EU-Kazakhstan trade, alongside expanding cooperation in renewable energy, infrastructure, technology and nuclear energy. 

Source: The Astana Times

Caspian-Europe Green Energy Corridor Targets Investment Decision by 2029

The Caspian-Europe Green Energy Corridor is expected to reach a final investment decision by 2029, Azerbaijan's Energy Minister Parviz Shahbazov announced on 22 October. Speaking following a forum in Baku, Shahbazov said the results of the project's feasibility study had been presented to international investors, financial institutions and business partners. The planned corridor would have a transmission capacity of 4 gigawatts, connecting renewable energy resources in the Caspian region with European electricity markets. A central component is the proposed 1,195-kilometre Black Sea submarine electricity cable linking Azerbaijan and Georgia with Romania and Hungary, under a strategic partnership established in 2022. The project aims to diversify European energy supplies and strengthen regional electricity integration. 

Source: Trend

Kazakhstan and Switzerland Sign $46 Million in Cooperation Agreements

Kazakhstan and Switzerland signed cooperation memorandums worth approximately $46 million during a bilateral business forum in Zurich, held as part of Kazakh Minister of Trade and Integration Arman Shakkaliyev's visit on 20-22 October. The agreements cover trade, commercial real estate and manufacturing, while discussions involving representatives of nearly 90 Swiss companies focused on expanding Kazakh exports, attracting investment and developing joint projects. The visit also saw the opening of a Swiss-Kazakh Cultural and Business Centre in Schaffhausen, aimed at promoting trade, investment and cultural cooperation, particularly by helping Kazakh producers access European markets. Both sides explored opportunities for Swiss participation in modernising Kazakhstan's energy and utilities infrastructure, while Kazakh officials highlighted the Middle Corridor's potential to strengthen Europe-Asia trade.

Source: The Astana Times, Kazakhstan's Ministry of Trade and Integration

Kazakhstan and Azerbaijan Plan Joint Cargo Terminal and Trans-Caspian Ferry System

Kazakhstan and Azerbaijan have agreed to advance plans for a joint intermodal cargo terminal and a new Trans-Caspian ferry system, known as the Caspian Bridge, to strengthen freight connectivity along the Middle Corridor. Kazakhstan Temir Zholy (KTZ) and Azerbaijan Railways signed a preliminary agreement outlining plans for the terminal and a joint venture, while Kazakhstan's Samruk-Kazyna sovereign wealth fund and Azerbaijan's AZCON Holding agreed on cooperation to develop the ferry system. The agreements follow plans announced during Kazakh President Kassym-Jomart Tokayev's October visit to Baku to construct two multipurpose cargo vessels at the Baku Shipyard. 

Source: AzerNews

European Businesses See Potential for Increased Freight Through Armenia-Azerbaijan Route

European companies operating in Azerbaijan expect the proposed Trump Route for International Peace and Prosperity (TRIPP) to attract additional freight once operational, according to the EU-funded Business Climate Report Azerbaijan 2025/26. The report highlights the potential for TRIPP to reduce transport times and costs compared with existing connections through Georgia's Black Sea ports, strengthening regional supply chains and Azerbaijan's role as a transit hub. It also notes that progress in Armenia-Azerbaijan relations has created opportunities to reopen regional transport links. Among surveyed European businesses, 46.3 percent considered Azerbaijan's existing transport infrastructure adequate for their needs, while a further 7.5 percent regarded it as a competitive advantage. 

Source: EU–Azerbaijan Business Forum – Business Climate Report, Trend

European Parliament Backs Stronger Critical Raw Materials Supply Chain Measures

The European Parliament voted on 22 October to strengthen the EU's Critical Raw Materials Act, advancing proposals intended to reduce dependence on external suppliers and improve the resilience of European industrial supply chains. The proposed amendments include establishing a dedicated European critical raw materials centre supported by a €2 billion fund, accelerating extraction, processing and recycling projects and introducing mechanisms to stabilise prices and coordinate strategic stockpiles. The measures would also expand supply-chain resilience requirements for major companies and potentially restrict exports of recyclable materials. Approved by 470 MEPs, the proposals will proceed to negotiations with EU member states. 

Source: MINEX Forum, European Parliament

EU and Central Asia Convene First Innovation Forum in Tashkent

The European Union and five Central Asian countries held their first EU-Central Asia Innovation Forum in Tashkent on 28 October, bringing together researchers, businesses, universities and public institutions to explore opportunities for closer cooperation in research, technology and innovation. Organised alongside Uzbekistan's INNOWEEK, the forum focused on strengthening connections between European and Central Asian innovation ecosystems, sharing experience from EU-funded Horizon Europe and Horizon 2020 projects and identifying opportunities for joint research and commercial partnerships. The European Commission also provided information on how Central Asian organisations can participate in Horizon Europe, the EU's principal research and innovation funding programme. 

Source: European Commission

Uzbekistan Opens Logistics Hub in Poland to Expand Exports to Europe

Uzbekistan has established a new logistics hub in Poland to facilitate exports to European markets and strengthen bilateral trade. Located at ATT Logistics in Poland's Mazovian Voivodeship, the 1,000-square-metre facility will provide Uzbek exporters with warehousing and distribution services, helping reduce delivery times and expand access to retail networks across Central and Eastern Europe. The initiative was launched during a visit by Uzbek entrepreneurs supported by an EU-funded project. The delegation also met Polish government officials and business representatives to discuss trade opportunities, industrial cooperation and the diversification of transport routes. 

Source: UzDaily, Dunyo