Assessment of Trade between the EU-27 and Kazakhstan

Azamat Sholanov

Bachelor's thesis

Abstract:

The Republic of Kazakhstan is the author's home country, and the European Union consisting of 27 countries is where the author presently resides. The purpose of this thesis is to describe the nature of the commercial ties that exist between these two subjects of the world economy. The primary purpose of this thesis is for the author to determine whether or not two economic topics have a significant influence on the economies of each other, what are the main commodities traded and what are the most important factors influencing this trade relationship. The methodology of this research paper is based on data collection from internet resources, databases, legal frameworks, and literature. The practical part of the thesis will be based on quantitative research. Quantitative research is mainly descriptive with numerous correlational methods to describe the behaviour of trade between two sides. Notably, the methods incorporated by the author in his thesis are linear regression estimation, elasticity computation, terms of trade analysis and trend estimation. The trade relationship between the two is primarily driven by the European need to buy raw materials, as crude oil and natural gas are the most important commodities traded between the European Union and Kazakhstan. The trade flow volume has been decreasing over the course of the last decade and is likely to continue doing so as the EU will continue their attachment to the Green Deal policy and decrease of the share of fossil fuels.

Keywords

Trade Flow, Kazakhstan, Economic Union, EU-27

Language used: English

Date on which the thesis was submitted / produced: 18. 3. 2023

Thesis defence

• Date of defence: 18. 5. 2023
• Supervisor: Ing. Olga Regnerová, Ph.D.
• Reader: Gabriela Kukalová, MBA Ph.D.

Czech University of Life Sciences Prague

Faculty of Economics and Management

Bachelor programme:
Business Administration