Kazakhstan, Germany Sign Ten Cooperation Agreements at Business Council Meeting

ASTANA – Kazakhstan and Germany signed ten documents at the 15th meeting of the Kazakh-German Business Council on strategic cooperation on Aug. 28 in Berlin, reported the Prime Minister’s press service.

Roman Sklyar at the 15th meeting of the Kazakh-German Business Council. Photo credit: primeminister.kz

Among them are a framework agreement on developing investment cooperation, a memorandum of understanding between the Saarbrücken Chamber of Commerce and Industry and the Kazakh Invest national company, memorandums of mutual cooperation between Kazakh and German companies, and an agreement on constructing the Flight Design Kazakhstan plant.

The meeting, chaired by Kazakh First Deputy Prime Minister Roman Sklyar and Executive Director of the German Committee on Eastern European Economic Relations Michael Harms, focused on joint projects in the agro-industrial complex and the processing industry.

The co-chairs emphasized the special significance of this meeting, which took place ahead of German Federal Chancellor Olaf Scholz’s visit to Astana in September.

Germany stands as Kazakhstan’s largest trading partner in the European Union, while Kazakhstan ranks among Germany’s top 50 foreign trade partners. Most German investments are directed towards Kazakhstan’s non-oil sectors, including the processing industry, chemical industry, construction materials production, transport, and the agro-industrial complex.

Established in 2010, the Kazakh-German Business Council serves as a regular coordinating and advisory body of business circles in both countries and an effective mechanism for attracting German investment in Kazakhstan’s economy. Currently, 752 enterprises with German capital operate in Kazakhstan.