Kazakhstan and Germany have signed ten cooperation agreements during a Business Council meeting
Kazakhstan and Germany signed ten documents at the 15th meeting of the Kazakh-German Business Council on strategic cooperation on Aug. 28 in Berlin, reported the Prime Minister’s press service.
Among the agreements signed are a framework agreement for developing investment cooperation, a memorandum of understanding between the Saarbrücken Chamber of Commerce and Industry and Kazakh Invest, various memorandums of mutual cooperation between Kazakh and German companies, and an agreement for constructing the Flight Design Kazakhstan plant.
The meeting, chaired by Kazakh First Deputy Prime Minister Roman Sklyar and Michael Harms, Executive Director of the German Committee on Eastern European Economic Relations, focused on joint projects in the agro-industrial sector and processing industry.
The meeting was notably significant as it occurred ahead of German Federal Chancellor Olaf Scholz’s visit to Astana in September.
Germany is Kazakhstan’s largest trading partner in the European Union, and Kazakhstan is among Germany’s top 50 foreign trade partners. German investments in Kazakhstan primarily target non-oil sectors, including the processing industry, chemical industry, construction materials production, transport, and agro-industrial complex.
The Kazakh-German Business Council, established in 2010, acts as a regular coordinating and advisory body for business circles in both countries and an effective mechanism for attracting German investment into Kazakhstan’s economy. Currently, there are 752 enterprises with German capital operating in Kazakhstan.(Source:astanatimes)
