Italy signs business deals with Kazakhstan

	MENAFN - 07/11/2009

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(MENAFN) Italian prime minister Silvio Berlusconi and Kazakhstan president Nursultan Nazarbayev signed new commercial agreements aimed at boosting bilateral ties, Reuters reported.

Italy's oil giant Eni and Kazakh state company Kaz MunayGas agreed to cooperate in research and gas exploration in Kazakhstan, while GE Oil & Gas, an Italian subsidiary of General Electric, signed an accord with Kazakhstan's sovereign wealth fund for a joint venture to develop gas resources and delivery via Kazakstan and Azerbaijan.

Italy's public railway, Ferrovie dello Stato, will instead help in the construction and development of the Kazakh national transport network.

Kazakhstan has vast oil and mineral resources and bilateral trade between Italy and Kazakhstan is worth 13 billion dollars a year. There are currently 130 Italian companies doing business in Kazakhstan.

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