ASTANA, Kazakhstan, August 29 /Astanatimes/— On August 28, Kazakhstan and Germany signed ten key documents during the 15th meeting of the Kazakh-German Business Council on Strategic Cooperation in Berlin, according to the Prime Minister’s press service.
The agreements include a framework deal to enhance investment cooperation, a memorandum of understanding between the Saarbrücken Chamber of Commerce and Industry and Kazakh Invest, as well as multiple memorandums of mutual cooperation between companies from both nations. Additionally, an agreement was signed for the construction of the Flight Design Kazakhstan plant.
The meeting was co-chaired by Kazakh First Deputy Prime Minister Roman Sklyar and Michael Harms, Executive Director of the German Committee on Eastern European Economic Relations. Discussions focused on collaborative projects within the agro-industrial sector and the processing industry.
Both leaders highlighted the significance of this meeting, which precedes the upcoming visit of German Federal Chancellor Olaf Scholz to Astana in September.
Germany is Kazakhstan’s largest trading partner within the European Union, while Kazakhstan ranks among Germany’s top 50 foreign trade partners. German investments are predominantly directed towards Kazakhstan’s non-oil sectors, including the processing and chemical industries, construction materials production, transport, and the agro-industrial complex.
Established in 2010, the Kazakh-German Business Council is a vital coordinating and advisory body for the business communities of both countries. It plays a crucial role in attracting German investment into Kazakhstan’s economy, with 752 enterprises with German capital currently operating in Kazakhstan.
