Kazakhstan and Germany Sign Ten Cooperation Agreements at 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.
A significant meeting, chaired by Kazakh First Deputy Prime Minister Roman Sklyar and Executive Director of the German Committee on Eastern European Economic Relations Michael Harms, took place ahead of German Federal Chancellor Olaf Scholz’s visit to Astana in September. The meeting focused on joint projects in the agro-industrial complex and processing industry, emphasizing the special significance of the bilateral economic cooperation between Kazakhstan and Germany.
Several important agreements were signed, including:
- A framework agreement on developing investment cooperation.
- A memorandum of understanding between the Saarbrücken Chamber of Commerce and Industry and Kazakh Invest national company.
- Memorandums of mutual cooperation between Kazakh and German companies.
- An agreement on constructing the Flight Design Kazakhstan plant.
Germany is Kazakhstan’s largest trading partner in the European Union, while Kazakhstan ranks among Germany’s top 50 foreign trade partners. Most German investments are directed towards Kazakhstan’s non-oil sectors, such as the processing industry, chemical industry, construction materials production, transport, and the agro-industrial complex.
The Kazakh-German Business Council, established in 2010, continues to serve as a coordinating and advisory body for business circles in both countries, playing an effective role in attracting German investment to Kazakhstan. Currently, 752 enterprises with German capital operate in Kazakhstan.(Source:astanatimes)
