• Sign in
  • 1744009905_435.svg 1744009905_642.svg

  • Latest news
  • Top headlines
  • Most read
  • Columnists
O'zbekcha
Ўзбекча
Русский
  • O'zb
  • Ўзб
  • Рус
  • Eng
  • O'zb
  • Ўзб
  • Рус
  • Eng
  • Latest news
  • Top headlines
  • Most read
  • Columnists
    • USD12559.26
    • RUB160.17
    • EUR14413.01
    • Google play
    • App Store
    • Telegram
    • Tashkent
      +31°C
      • Andijan
      • Karshi
      • Bukhara
      • Samarkand
      • Ferghana
      • Sirdarya
      • Jizzakh
      • Termez
      • Namangan
      • Tashkent
      • Navoiy
      • Tashkent reg
      • Nukus
      • Urgench
    • Daryo
      • About Daryo
      • Editorial office
      • Contact us
      • Terms of use
      • Privacy policy
      • News archive
    • Advertisement
    • Social networks
      • Instagram | Main
      • Instagram | Lifestyle
      • Instagram | Sport
      • Facebook | Main
      • OK | Main
      • YouTube | Daryo
      • YouTube | Daryo in Russian
      • YouTube | Daryo Global
    Telegram Youtube Facebook Instagram Twitter vkontakte
    Daryo logo white
    • Uzbekistan
      • Others
      • Navoi
      • Tashkent region
      • Syrdarya
      • Jizzakh
      • Kashkadarya
      • Surkhandarya
      • Khorezm
      • Bukhara
      • Samarkand
      • Namangan
      • Fergana
      • Andijan
      • Karakalpakstan
      • Tashkent City
      • DaryoKindness
      • Weather
    • Central Asia
      • Uzbekistan
      • Afghanistan
      • Kyrgyzstan
      • Kazakhstan
      • Turkmenistan
      • Tajikistan
    • World
    • Money
      • Business
      • Economics
      • Finance
      • Crypto
    • Culture
      • Movies
      • Books
      • Music
      • Celebrities
    • Lifestyle
      • Women only
        • Children
        • Beauty
        • Carrier
        • Advises
        • Fashion
        • Recipes
      • Technology
        • Architecture
        • Gadjets
        • Science
        • Space
        • Media
      • Auto
      • Entertainment
      • Travel
      • Health
      • Education
        • Entrant
        • Learn english
    • Sport
      • Football
      • UFC
      • Boxing
    infinix
    Daryo.uz - Login
    Daryo.uz Daryo.uz
    Daryo.uz - Login
    Kazakhstan

    Kazakhstan and Germany sign deals worth $1.7bn

    Kazakhstan and Germany sign deals worth $1.7bn

    On June 20, Kazakhstan and Germany solidified their economic ties with the signing of 23 commercial agreements worth over $1.7bn at the Kazakh-German Business Forum held in Astana, Astana Times reported.

    Photo: Akorda

    The event, attended by President of Kazakhstan Kassym-Jomart Tokayev and German President Frank-Walter Steinmeier, marks a significant milestone in the bilateral relations between the two nations.

    The agreements encompass a wide range of sectors, including the processing of rare earth metals, the production of machine tools, agricultural machinery, textiles, fisheries, and green energy. Among the notable deals is a $22mn agreement between Kazenergopower and Siemens, focusing on the production of medium-voltage distribution devices for Kazakhstan's energy sector using Siemens technology.

    Another significant agreement worth $200mn was signed between Creada Corporation and HMS Bergbau. This partnership aims to explore, extract, and process complex rare metal ores in eastern Kazakhstan, strengthening the country's mining industry.

    Photo: Akorda

    To facilitate investment projects and promote economic cooperation, the Development Bank of Kazakhstan and Landesbank Baden-Württemberg agreed to provide financing and export credit guarantees to German companies and Kazakh companies working with German partners in Kazakhstan.

    President Tokayev highlighted the importance of Germany as Kazakhstan's leading economic partner in Central Asia. He noted that German companies have invested $6bn in Kazakhstan, with the majority of these investments directed toward the non-resource sector. Currently, there are approximately 1,000 companies with German capital operating in Kazakhstan.

    “Kazakhstan warmly welcomes all German companies, large or small. We value the German approach to business based on determination, precision, and responsibility,” Tokayev said.
    Photo: Akorda

    Tokayev expressed Kazakhstan's interest in collaborating with Germany in the development of natural resources. 

    “This morning, during my meeting with Mr. Steinmeier, we agreed to strengthen our cooperation in the joint exploration and development of natural resources. This includes realizing the intergovernmental partnership agreement on raw materials, industry, and technology,” said Tokayev.

    Additionally, Tokayev highlighted Kazakhstan's potential as a leading producer of green hydrogen, which could pave the way for the production of environmentally friendly metals like steel and aluminum. He emphasized a recently signed $50bn green hydrogen deal with the Svevind Group, positioning Kazakhstan as a significant player in the global green energy market.

    Photo: Akorda

    The president of Kazakhstan also underlined the importance of the Trans-Caspian International Transport Route (TITR) in the changing geopolitical landscape. He noted that freight traffic along the TITR to the European Union has doubled since 2022, necessitating infrastructure modernization and the expansion of Kazakh ports' capacity to accommodate the growing trade volume.

    “To support the growing volume of trade between East and West, we are working to modernize our infrastructure and eliminate bottlenecks. We intend to increase the capacity of Kazakh ports to 30mn tons,” the president noted.
    Photo: Akorda

    In addition to economic cooperation, the forum explored opportunities for collaboration in innovation, digitalization, and human capital development. President Tokayev acknowledged Germany's reputation as a leading innovation hub and expressed Kazakhstan's aspirations to become a regional innovation and digital center in Eurasia. He expressed the desire to engage German partners in technological and digital research, as well as startup development.

    As part of efforts to enhance human capital development, a Forum of Rectors of Kazakh and German Universities was held in Astana. Tokayev, along with Steinmeier and representatives from 11 German and 25 Kazakh technical universities, discussed ways to foster academic collaboration. Tokayev expressed his vision of transforming Kazakhstan into a research hub in Eurasia, emphasizing the crucial role that German universities can play in realizing this ambition.

    President Steinmeier continued his visit to Kazakhstan on June 21 by attending the launch ceremony of test drilling at the green hydrogen production plant operated by Svevind in the Mangystau Region.

    22.06.2023, 11:56   Comments (0)   1388
    Facebook Twitter LinkedIn Telegram Email

    Comments (0)

    Sign in
    Leave A Reply Cancel

    On this topic

    Kazakhstan's president calls for peace in Ukraine at joint press conference

    22.06.2023, 08:33

    Kazakhstan, Germany forge oil partnership for 2023 

    22.06.2023, 02:06

    Former Kazakh Minister of Culture and Sports sentenced to 8 years in prison for corruption

    21.06.2023, 17:27

    Kazakhstan introduces new consumer rights protection measures 

    21.06.2023, 12:09

    Over 200 individuals with dual citizenship identified in Kazakhstan

    21.06.2023, 12:06

    Global cooperation flourishes at Kazakhstan's International Volunteer Forum 

    21.06.2023, 10:20
    ×Lightbox Image

    Daryo.uz | Solution to your problems


    Don't want to waste time standing in lines? Pay your utility bills through the Ipoteka Retail mobile app?


    Beeline Uzbekistan started 2025 with a significant network modernization


    Beepul 's rising popularity: 3.5x user growth, transaction up 2.3x in 2024


    More than 500,000 new users: residents of Uzbekistan choose the Hambi superapp

     

    Recommended

    Iran as the pressure point: How Washington’s campaign against Tehran seeks to undercut China and Russia - and why Central Asia risks the fallout

    19 June, 12:24

    "Visa simplification with Uzbekistan could be on the table," EU Ambassador Klaar points out

    11 June, 12:12

    “Uzbekistan is undergoing large-scale reforms and transformation,” says EU business leader at TIIF

    11 June, 08:34

    Central Bank warns half of monthly income goes to loans as debt burden rises in Uzbekistan

    3 June, 12:34
     
     
     

    Latest news

    Uzbekistan, Afghanistan ink $9.5mn leather footwear export deal

    Uzbekistan | 21 June, 15:50

    Locusts sweep across 500,000 hectares in Uzbekistan as authorities intensify control measures

    Uzbekistan | 21 June, 12:32

    Uzbekistan's Kashkadarya region poised for $15bn growth as Mirziyoyev pushes reforms and investment

    Uzbekistan | 21 June, 10:36

    Kazakhstan boosts waste recycling from 1% to 25% in a decade, targets 40% by 2030

    Kazakhstan | 20 June, 15:30

    Uzatom, Rosatom sign agreement to explore feasibility of high-capacity nuclear plant in Uzbekistan

    Uzbekistan | 20 June, 14:36

    Uzbekistan signs $68mn in export contracts at Turkic States Trade Forum in Baku

    Uzbekistan | 20 June, 12:34

    Brilliant minds of Uzbekistan: How one woman from Tashkent is shaping the future of legal AI - interview with Malika Khikmatillaeva

    Uzbekistan | 20 June, 11:00

    Uzbekistan fines 13 banks in May amid heightened regulatory scrutiny

    Uzbekistan | 20 June, 10:30
    Daryo About Us

    Full reproduction or partial quoting of material, as well as the use of photographic, graphic, audio and/or video materials of Daryo (the Uzbek Press and Information Agency (UzAPI, now the Agency for Information and Mass Communications under the Presidential Administration of the Republic of Uzbekistan) is registered on 13.03.2015 with certificate number No. 0944 as a mass media) is allowed if there is a hyperlink to the website daryo.uz and/or are accompanied by a note indicating the authorship of the online publication Daryo. Individual publications may contain information that is not intended for users under the age of 18. Info@daryo.uz

    Telegram Youtube Facebook Instagram Twitter vkontakte

    © Simple Networking Solutions, 2013–2025

    Age restriction

    Did you find a bug? Press Ctrl + Enter

    • Terms of use
    • Privacy policy
    • Advertisement
    What are we going to search for?

    Sign In or Register

    Welcome Back!

    Login below or Register Now.

    Google

    or with email

    Leaving a comment, Пользовательского соглашения and Политики конфиденциальности

    Register Now

    Already registered? Login.

    Google

    or with email

    A password will be e-mailed to you.

    Leaving a comment, Пользовательского соглашения and Политики конфиденциальности

    Found an error in the text?

    ×

    Thank you. We have received your message and will fix the error as soon as possible.