On the eve of the first-ever Central Asia-European Union summit, Kazakhstan announced the discovery of vast deposits of rare earths, a big nugget of information clearly designed to attract foreign investment.

The two-day summit kicked off on April 3 in the Uzbek city of Samarkand, with the leaders of Central Asian states, along with European Council President António Costa and European Commission President Ursula von der Leyen, in attendance. 

The EU’s primary objective is to deepen its trade & investment relations with the five Central Asian states, capitalizing on the growing interest of regional leaders in diversifying their options via the development of the Middle Corridor trade route. Access to Central Asia’s abundant mineral resources has also rapidly emerged as a point of interest for both the United States and EU.

“Reaffirming our commitment to deeper cooperation in an evolving global and regional geopolitical landscape, we have decided to upgrade relations between the European Union and Central Asia to a strategic partnership,” a draft EU statement declares, according to a version seen by RFE/RL reporters.

The Kazakh announcement on April 2 about the discovery of more than 20 million metric tons of metal deposits is sure to be a major topic of discussion at the summit. If verified, the discovery would give Kazakhstan the world’s third largest reserves of rare earth metals, behind only China and Brazil. The newly discovered deposits contain neodymium, cerium, lanthanum and yttrium, elements used in the production of a wide array of advanced technological devices, including medical equipment, car batteries, catalytic converters, lasers and optics.

The announcement seemed specifically crafted to heighten EU interest in developing the deposits. “Successful development of ore enrichment technology and the extraction of valuable components will affect the increase in investment attractiveness and economic development of the region,” said a Kazakh government statement on April 2.

Earlier, Kazakh Prime Minister Baktenov issued instructions to expand government surveying and prospecting activities to uncover new deposits that can attract foreign investment, according to a report distributed by the Zakon.kz news outlet.

On the summit sidelines, the meeting’s host, Uzbek President Shavkat Mirziyoyev, held a bilateral meeting with Costa and von der Leyen. A statement issued by the Uzbek president’s office expressed “particular satisfaction” with the “deepening of Uzbek-European multifaceted cooperation.” It added that Uzbekistan was preparing to sign an Enhanced Partnership and Cooperation Agreement with the EU. 

In a separate statement, the Uzbek president announced the opening of an office of the European Investment Bank in Tashkent. The bank’s presence in the country “will expand mutually beneficial cooperation and increase the volume of investments attracted to the development of a ‘green’ economy, innovative industry and modern infrastructure in Uzbekistan and in Central Asia as a whole,” the statement noted.

Meanwhile, Kazakh President Kassym-Jomart Tokayev also held bilateral talks with Costa in Samarkand. A presidential communique, which pointed out that the EU is already the Central Asian state’s largest source of foreign direct investment, said discussions focused on “prospects for further strengthening multifaceted cooperation in various sectors.”