Germany remains Kazakhstan's largest trading partner within the European Union, while Kazakhstan is listed among Germany's top 50 foreign trade partners, according to the Prime Minister's press service.
The 15th meeting of the Kazakh-German Business Council for Strategic Cooperation took place in Berlin, co-chaired by Kazakhstan's First Deputy Prime Minister Roman Sklyar and Michael Harms, Executive Director of the Eastern Committee of German Economy. The event was attended by key industry representatives from both countries, including business associations and major companies from Kazakhstan and Germany.
Notable German entities such as Siemens, Siemens Energy, Deutsche Bahn, and Deutsche Bank, among others, demonstrated interest in the meeting. Discussions focused on enhancing trade and economic cooperation, attracting investments, and implementing joint projects in sectors like agro-industrial and processing industries.
The co-chairs highlighted the importance of this meeting, which precedes German Federal Chancellor Olaf Scholz's planned visit to Astana in September.
A significant portion of German investments in Kazakhstan targets non-raw material sectors, including the processing industry, chemical industry, construction materials, transport, and agro-industrial complex.
During the meeting, the parties signed ten agreements, including the Framework Agreement on Investment Cooperation, a Memorandum of Understanding between the Chamber of Commerce and Industry of Saarbrücken and NK KAZAKH INVEST, and various memorandums of mutual cooperation between Kazakhstani and German companies. Notably, an agreement was reached for the construction of the Flight Design Kazakhstan plant.
The Kazakh-German Business Council, established in 2010, serves as a key coordinating and advisory body, effectively facilitating German investment in Kazakhstan. Currently, there are 752 enterprises with German capital operating in Kazakhstan.
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