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Investment cooperation a solid basis for Kazakhstan-Germany relations development

14 June 2019 11:45 846
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Investment cooperation a solid basis for Kazakhstan-Germany relations development

NUR-SULTAN. KAZINFORM - Germany is among the leading partners of Kazakhstan in the EU. Trade and economic relations between the two countries are characterized by the dynamics of stable growth and the search for new opportunities for economic interaction. 

A strong legal base has been created, a significant number of dialogue platforms and institutions are functioning, in particular the Intergovernmental Working Group on Trade and Economic Cooperation, the Kazakhstan-Germany Business Council, the Delegation of German economy for Central Asia, the Berlin Eurasian Club and others, Kazinform has learnt from the press service of the Kazakh MFA.

About 90% of German investments in Kazakhstan go to the non-primary sector of the economy, in particular to the processing industry with the creation of products with high added value.

Together with German companies in Kazakhstan19 major investment projects have been implemented in such areas as construction, engineering, industrial productionin recent years.

Over 2005-2018, German companies have invested about US$ 4.6 billion into the Kazakh economy.

Projects with the participation of such leading German companies as Siemens, Heidelberg Cement, Knauf, Linde, Wilo, Bayer AG are examples of the fruitful work of the parties. Their products are well recognizable not only in the market of Kazakhstan, but also in neighboring countries.

One of the brightest examples of successful cooperation with German business was the entry of Metro Cash & Carry, the world's largest chain of small wholesale stores, into the Kazakhstani market. Currently in the cities Almaty, Nur-Sultan, Karaganda, Ust-Kamenogorsk, Pavlodar, Shymkent work 6 Metro shopping centers providing 1,500 jobs.

World leader in the production of building materials - HeidelbergCementworks in the Kazakh market since 2005. More than 2000 employees work in several local companies that produce cement, concrete and inert materials. The company in Kazakhstan has three cement plants in the East Kazakhstan and Mangystau regions, Shymkent, as well as operating concrete plants in the cities of Almaty, Nur-Sultan and Aktau.

In order to further strengthen bilateral cooperation, about 20 projects with the participation of German capital are under elaboration in order to attract them in such economic sectors as manufacturing, construction, transport, communications, and agriculture.



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