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Astana, Kazakhstan • 14 December, 2022 | 15:53

Kazakhstan and Germany Intend to Increase Economic Cooperation

650 companies operating on German investment are registered in Kazakhstan

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Ministry of Foreign Affairs of Kazakhstan
Ministry of Foreign Affairs of Kazakhstan

Six hundred fifty companies operating on German capital are registered in Kazakhstan, QazMonitor reports citing the ministry of foreign affairs.

"There are about 50 potential bilateral investment projects worth about 4.8 billion euros," the ministry’s press service writes.

Deputy Prime Minister - Foreign Minister of Kazakhstan Mukhtar Tleuberdi held bilateral talks with Vice Chancellor - Federal Minister of Economy and Climate Protection of Germany Robert Habeck.

"In the year of the 30th anniversary of the establishment of diplomatic relations, we note with satisfaction the strategic nature of our bilateral relations. There is mutual trust between Kazakhstan and Germany and a desire to further expand and diversify trade and economic cooperation," Tleuberdi said.

According to data, Kazakhstan accounted for 85% of Germany's total trade with Central Asian countries in 2021. Bilateral trade turnover in the first nine months amounted to 6.8 billion euros, an increase of 83% over the same period last year.

The authorities also met with executives of major German companies HMS Bergbau AG, Hermith, and Knauf.

The discussion with German entrepreneurs also included opportunities for practical implementation of investment projects in Kazakhstan in the field of exploration and mining of lithium, production of titanium products, and production of building materials using the latest German technologies.

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