Kazakh president meets with heads of German company

Kazakh president meets with heads of German company

Kazakhstan welcomes foreign investors and is ready to provide them with favorable conditions for the successful implementation of projects, as announced by Kazakh President Kassym-Jomart Tokayev at a meeting with German businesspeople. The meeting agenda included various issues, including prospects for cooperation in the field of healthcare and pharmaceuticals. Mining and processing of rare earth metals was identified as one of the key areas of partnership development with the company’s representatives.

President Tokayev addresses Berlin Global Dialogue forum

Afterward, the Kazakh President took part in a round table meeting between the business circles of Kazakhstan and Germany and delivered a speech at the first-ever Berlin Global Dialogue summit. At the international forum, President Tokayev presented his vision of Kazakhstan’s role in global economic processes. He called on the participants to pay attention to the prospects that economic partnership with Kazakhstan can provide, particularly, the Trans-Caspian International Transport Route. The Head of State emphasized that the Middle Corridor opens up new opportunities for trade and investment in the region. A significant part of President Tokayev’s speech was devoted to the role of Kazakhstan in stabilizing international economic relations.

“Kazakhstan has the second-largest proven oil reserves in Eurasia and is a major supplier of energy to global markets. Given that the European Union receives 70 percent of our oil exports, we are ready to expand our export capacities and contribute to mitigating the global energy crisis,” stated Kazakh President.

President Tokayev informed the forum participants about new horizons for the growth of the national economy.

“Last year, Kazakhstan’s exports increased by nearly 40 percent. While the energy sector still accounts for a significant share of the country’s GDP, we are intensifying efforts to diversify our economy. With the growth in sectors such as the automotive industry, pharmaceuticals, metal processing and machinery, Kazakhstan continues to attract significant foreign investment by creating an extremely favorable business environment,” noted the Head of State.

It bears noting that today Germany is one of Kazakhstan’s largest trading partners and leading investors in the country’s economy. Kazakhstan accounts for about 83 percent of total trade between Germany and Central Asian states. In 2022, the trade turnover between the two countries reached $2.8 billion.