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Kazakhstan, Germany to develop a roadmap for expansion of investment cooperation

23 August 2019 [18:04] - TODAY.AZ


German investors commended Kazakhstan’s investment potential and agreed to develop a roadmap for expansion of Kazakhstan-Germany investment cooperation and create a list of joint strategic projects, Trend reports with reference to the press office of Kazakh Invest company.

The discussion took place during the visit of the Minister of Foreign Affairs of Kazakhstan Beibut Atamkulov to Germany where he headed the Kazakhstan-German business roundtable.

During the discussion, Deputy CEO of Kazakh Invest Rustam Issatayev elaborated on the investment opportunities for German companies in Kazakhstan, growth prospects and measures of state support for investment activities. He noted that intensive negotiations were being conducted with five companies expressing interest in implementing investment projects in Kazakhstan.

In turn, speakers from the German side shared their experience of operating in Kazakhstan, emphasizing the advantages of an access to the nearby markets of the Eurasian Economic Union, China, the Middle East, Central Asia and wide opportunities for business expansion and investment. The German business showed particular interest in the country’s agribusiness - from livestock and food industries to agricultural machinery and production of flaxseed oil and mineral fertilizers.

Chairman-Supervisory Board for CLAAS KGaA mbH, Deputy Chairman of the Board of German Eastern Business Association Cathrina Claas-Mühlhäuser noted the positive dynamics in the development of trade and economic cooperation between the two countries.

“Today, Kazakhstan is the most important partner in Central Asia. With introduction of new functions of Kazakhstan’s Ministry of Foreign Affairs, our cooperation has been noticeably gaining new momentum. Today’s meeting with the Foreign Minister has clearly demonstrated this,” she said.

Vice President of Deutsche Post International Jurgen Lohmeyer spoke about the positive trends in development of Kazakhstan’s transport and logistics potential. He noted that over the past five years, the volume of freight transportation through Kazakhstan from China to Europe and in the opposite direction had significantly increased.

The parties agreed to develop a roadmap for enhancement of Kazakhstan-Germany investment cooperation and create a list of joint strategic projects.

According to German statistics, the value of mutual trade between the countries reached $5.1 billion in 2018. Over the past 12 years, Kazakhstan has attracted $8.6 billion of direct investment from Germany. More than 900 joint ventures have been created with such major investors as Siemens, WILO, KNAUF, BASF, Metro Cash & Carry, OBI, CLAAS and Linde AG.


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