Kazakhstan and Germany to expand investment cooperation

NUR-SULTAN (TCA) — German investors commended Kazakhstan’s investment potential and agreed to develop a roadmap for expansion of Kazakhstan-Germany investment cooperation and to create a list of joint strategic projects. This is the outcome of the Kazakh Foreign Minister’s visit to Berlin earlier this week, the Kazakh Foreign Ministry said.

During the first official visit to Germany on August 20, the Minister of Foreign Affairs of Kazakhstan Beibut Atamkulov led the Kazakhstan-German business roundtable. The leadership of the German Eastern Business Association and 20 large German companies with a combined capitalization of over $180 billion, including Linde Group, GEA Group, Deutsche Post, TUI Group, CLAAS KGaA mbH, Schaeffler Technologies AG & Co. KG, Deichmann SE, LEMKEN GmbH & Co. KG, as well as Tönnies Holding ApS & Co. KG, Böhmer GmbH, among others, attended the event.

The participants of the roundtable conducted bilateral negotiations, discussed the country’s investment climate, experience of operating in Kazakhstan and outlined further prospects for cooperation in the fields of machine-building, agribusiness, petrochemistry, construction, transportation, and light industry.

Minister Atamkulov explained in detail key development areas of Kazakh economy. German business was invited to participate in implementation of programs for industrialization, digitalization, economy of “simple things”, development of green economy, and Astana International Financial Center.

During the discussion, the Deputy CEO of Kazakh Invest investment promotion company Rustam Issatayev elaborated on the investment opportunities for German companies in Kazakhstan, growth prospects and measures of state support for investment activities. He said that intensive negotiations were being conducted with five companies expressing interest in implementing investment projects in Kazakhstan.

The speakers from the German side shared their experience of operating in Kazakhstan, emphasizing the advantages of an access to the nearby markets of the EEU, China, the Middle East, Central Asia and wide opportunities for business expansion and investments. The German business showed particular interest in the country’s agribusiness — from livestock and food industries to agricultural machinery and production of flaxseed oil and mineral fertilizers.

The Chairperson of Supervisory Board for CLAAS KGaA mbH, the Deputy Chairperson of the Board of German Eastern Business Association Cathrina Claas-Mühlhäuser noted the positive dynamics in the development of trade and economic cooperation: “Today, Kazakhstan is the most important partner in Central Asia. With introduction of new functions of Kazakhstan’s Ministry of Foreign Affairs, our cooperation has been noticeably gaining new momentum. Today’s meeting with the Foreign Minister has clearly demonstrated this.”

Jurgen Lohmeyer, the Vice President of Deutsche Post International, spoke about the positive trends in the development of Kazakhstan’s transport and logistics potential. He noted that over the past 5 years, the volume of freight transportation through Kazakhstan from China to Europe and in the opposite direction had significantly increased.

The parties agreed to develop a roadmap for enhancement of Kazakhstan-Germany investment cooperation and to create a list of joint strategic projects.

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