ASTANA (TCA) — Kazakhstan and Germany aim to further strengthen strategic partnership in political, trade and economic areas with a particular focus on cooperation in the high-tech Industry 4.0 and education. This was discussed on September 17 in Astana at a meeting of Kazakh Minister of Foreign Affairs Kairat Abdrakhmanov with Minister of State of the Federal Foreign Office of the Federal Republic of Germany Niels Annen, the Kazakh Foreign Ministry reported.
“Cooperation between Kazakhstan and Germany has become sustained on the whole range of relations. And regular contacts at the highest level between President of Kazakhstan Nursultan Nazarbayev, Federal President Frank-Walter Steinmeier and Chancellor of the Federal Republic of Germany Angela Merkel are of paramount importance,” Minister Abdrakhmanov noted.
The Kazakh Foreign Minister stressed the existing significant potential in trade, economic and investment domains.
It was noted that Kazakhstan was a priority for Germany’s foreign policy and economic agenda in Central Asia, and appreciation was expressed for supporting Germany’s candidacy for a non-permanent seat on the UN Security Council for 2019-2020.
The prospects of bilateral trade and economic cooperation were discussed separately. The sides welcomed the steady growth of trade turnover between Kazakhstan and Germany, which reached $4.9 billion in 2017. A significant potential for enhancing investment cooperation was commended. In 2017, the gross inflow of German direct investment in Kazakhstan’s economy amounted to more than $345 million. In total, from January 2005 to January 2018 the gross inflow of direct investment from Germany to Kazakhstan exceeded $4.2 billion.
It was especially emphasized that over 90% of German investment in Kazakhstan’s economy fall on the non-energy sector, particularly, on the manufacturing and chemical industry, building material production, transport and agribusiness. In this respect, the importance of further cooperation in this area was noted, especially given the achievements of Germany in implementing Industry 4.0 technology.