KAZAKH INVEST and the Eastern Committee of the German Economy signed a Joint Plan to Strengthen Investment Cooperation

KAZAKH INVEST and the Eastern Committee of the German Economy signed a Joint Plan to Strengthen Investment Cooperation

Within the framework of the official visit of the President of the Republic of Kazakhstan Kassym-Jomart Tokayev to the Federal Republic of Germany, the Head of State met with representatives of leading German companies in Berlin.

Today, Germany is the largest trading partner of Kazakhstan among the countries of the European Union and one of the leading investors in the economy of our country. The trade and economic relations between the two countries are characterized by the dynamics of stable strengthening and the search for new opportunities for economic cooperation at the federal and regional levels.

The event was attended by the leaders of over 20 German companies, including WILO, CLAAS Group, SMS Holding GmbH, Schaeffler AG, Airbus Defense and Space, Linde AG, Mangold Consulting GmbH, Herrenknecht AG, Knorr-Bremse AG, Euler Hermes, Siemens Healthineers, John Deere, Deutsche Bank AG, Tönnies Holding, BAUER COMP Holding and others.

As part of the business dinner, the promising issues of the trade and economic sphere, investment opportunities and the search for new horizons for mutually beneficial partnership were considered.

The representatives of German business interests spoke about their experience in the Kazakhstan market, shared their plans and expressed a number of wishes.

The Head of State noted that Kazakhstan aims at raising its standards and bring legislative standards to the level of OECD countries, hoping in the future to become a full member of this organization. Additionally, Kazakhstan called upon German businessmen to join in the Projects in agriculture, high technology and digitalization, as well as take part in activities of the Astana International Financial Center.

“As the President of Kazakhstan, I will do everything in my power to ensure that business and investments from Germany come to our country, feel safe and successfully develop. We are ready to provide special conditions for German businessmen” – said Kassym-Jomart Tokayev.

In turn, the Chairman of the Eastern Committee of German Economy Oliver Hermes noted as follows: “It was a great honor for us to speak with you. We are confident that your visit will fruitfully affect not only our political contacts, but also our economic relations. I would like to assure that the German business as a whole is a reliable partner of Kazakhstan. I believe that we have good opportunities for future cooperation and the growth of German investments in the economy of Kazakhstan” - said Oliver Hermes, the Head of WILO and Chairman of the Board of the Eastern Committee of German Economy,.

It is worth noting that as part of official events, 30 commercial and non-commercial documents were signed for a total amount of 2.4 billion US dollars.

“One of the main documents signed today is a Joint Plan to Strengthen Cooperation in investments between KAZAKH INVEST and the Eastern Committee of German Economy, which determines priority sectors and specific cooperation projects” - said the Chairman of the Board Baurzhan Sartbayev.

The Germany for Kazakhstan is a key European partner, 86% of Germany’s trade with Central Asia falls on Kazakhstan.

It is worth noting that the bilateral trade between Kazakhstan and Germany in 2018 amounted to 2.1 billion US dollars. Between January and September 2019, the trade between countries amounted to 1.3 billion US dollars.

Over the past 14 years, German companies have invested about 5.2 billion US dollars in our country. More than 80% of German investments in the economy of Kazakhstan are in the non-primary sector.

The official events were co-sponsored by the Ministry of Foreign Affairs of the Republic of Kazakhstan and KAZAKH INVEST.

Today in Kazakhstan there are over 900 companies with the participation of German capital, including large ones such as Linde AG, Heidelberg Cement, BASF, Knauf, Siemens, Wilo, CLAAS, Volkswagen, Mann, Bayer, METRO.

During the meeting, the parties noted that the agreements reached and the decisions taken gave impetus to enhance bilateral economic cooperation, as well as outlined new opportunities and prospects for partnership between the two states.

Image: Akorda.kz

 

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