17 May, 2018

Kazakh PM meets with delegation of German business circles led by Manfred Grundke

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Today in Ukimet Uyi within the framework of the Astana Economic Forum, Prime Minister Bakytzhan Sagintayev met with Chairman of the Committee on Eastern European Economic Relations, Manfred Grundke and representatives of German companies, reports primeminister.kz.

During the meeting, issues of further development of trade and economic cooperation with Germany were discussed, including increasing export-import operations, expanding the range of goods and services supplied, and establishing direct contacts between business circles of both countries.

Bakytzhan Sagintayev noted that Germany is one of the country's key partners in the European Union and Kazakhstan is interested in expanding mutually beneficial cooperation.

It is important to make maximum use of the potential of the Intergovernmental Working Group on Trade and Economic Cooperation, the Kazakh-German Business Council and the Intergovernmental Agreement on Partnership in the Raw Materials, Industrial and Technological Spheres, B. Sagintayev noted.

The main spheres in which German companies operate and invest actively are construction, trade, industrial production, development of deposits, the areas of energy, chemical industry and tourism were named as promising.

10 special economic and 20 industrial zones actively operate in Kazakhstan, within the framework of which investors are provided with the necessary infrastructure and receive state support. In this regard, the business circles of Germany received an invitation to participate in our country’s industrialization process, the implementation of joint projects in digital, transport and logistics infrastructure, technologies and competencies in Industry 4.0, the development of data centers.

For reference: Foreign trade turnover between Kazakhstan and Germany for January-February 2018 amounted to $338.5 million, an increase of 54.5% compared to the same period in 2017 ($219.1 million). Turnover for 2017 amounted to $1.9 billion (exports – $418.2 million, imports – $1.5 billion), whereas in 2016 the turnover amounted to $1.7 billion (exports – $262 million, imports – $1.44 billion).

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