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Kazakhstan to sign $2 billion agreements with Germany

10 December 2019 [13:53] - TODAY.AZ

By Azernews

By Abdul Kerimkhanov

Kazakhstan is Germany’s largest trading partner in Central Asia region.

The country will sign a package of agreements worth $2 billion with Germany, Kazakh President Kassym-Jomart Tokayev has told German media ahead of his visit to that country.

"For Kazakhstan, Germany is a key European partner. As many as 86 percent of Germany's trade with Central Asia falls on Kazakhstan. During the visit, I hope that a package of agreements and a Memorandum on approximate estimates worth about two billion dollars will be signed," Tokayev stated.

In general, he added, the attitude of Kazakhstan towards the European Union is extremely positive.

"In 2018, the volume of trade between Kazakhstan and the EU exceeded $37 billion, which is half of the total foreign trade turnover of our country. More than 80 percent of German investments in our economy are in the non-oil sector. This is very important," he said.

Listing the achievements of Germany, Tokayev noted that this country is a world leader in mechanical engineering, resource processing of materials and other fields.

"Therefore, we are interested in cooperation with Germany. Therefore, all the interesting areas will be presented to potential German investors. Moreover, we will present special conditions for them, give them sites in our ten special economic zones," he emphasized.

Trade between the two countries reached a total of over five billion euros in 2018. In all, there are more than 200 German companies operating in Kazakhstan.

Kazakhstan participates in a wide range of regional German development cooperation projects in Central Asia. These programs focus on the development of a vocational training system, good governance, sustainable economic development, the environment and energy efficiency as well as disaster prevention.


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