Kazakhstan and Germany sign agreements worth US$200 million

Kazakhstan and Germany signed more than 10 agreements worth over US$200 million during a joint business forum to develop economic cooperation. The parties signed agreements in areas such as healthcare, logistics, engineering and petrochemistry, innovation, IT technologies and industrial automation. The implementation of 10 Kazakh-German projects will begin in Kazakhstan in the near future. They include the creation of a digital competencies laboratory, the construction of a gypsum stone processing plant, the opening of three hemodialysis clinics, and the construction of an intermodal terminal. In total, more than 70 German companies took part in the event.

“There are approximately 620 companies that work in Kazakhstan with Germany and pay taxes. Most importantly, 90% of German investments are in the non-commodity sector of the economy. Last year’s trade turnover totaled US$2.2 billion, of course, we have plans for growth; there are opportunities to increase trade. We must overcome this level, at least, in terms of investments last year, which totaled US$350-360 million, that is, we plan to approach US$400 million in 2022,” opined Almas Aidarov, Kazakh Deputy Minister of Foreign Affairs.


Translation by Saule Mukhamejanova