ASTANA, Kazakhstan, May 20. During the 16th Kazakhstan-Germany Business Council (KGBC) meeting, Rustam Karagoishin, Chairman of National Managing Holding "Baiterek," highlighted that the portfolio of collaborative projects between Kazakhstan and Germany now includes 63 initiatives, collectively valued at more than $54.4 billion, Trend reports.
According to him, 32 projects worth $1.1 billion have already been implemented, and 12 are in the active implementation phase.
"Germany, as one of the leading global economies, holds the position of the largest trading partner of Kazakhstan among European Union countries. At the same time, Kazakhstan is one of the top 50 foreign trade partners of Germany, ranking 43rd in 2024," noted Karagoishin.
In turn, the co-chairman of the KGBC from the German side, Managing Director of the Eastern Committee of the German Economy, Michael Harms, emphasized the importance of specific economic initiatives.
"We have six new concrete German-Kazakh projects in the field of manufacturing, which will be presented today. I think this is a very positive fact. If we implement such projects, then, of course, the KGBC platform has proven itself well," he said.
The participants discussed prospects for deepening economic partnership, including issues of financing and the implementation of new bilateral projects.
As part of the meeting, documents were signed aimed at developing industrial cooperation, technological partnership, and implementing joint investment projects. Among them are memorandums of understanding between National Managing Holding "Baiterek" and KfW Development Bank, between LLP "Kazakhstan Petrochemical Industries Inc." and IMI Zimmermann & Jansen Technologies GmbH, as well as cooperation agreements between "Development Bank of Kazakhstan" and KFW Development Bank, and between RGP "Zhezkazganredmet" and the German company DAR Metall AG.
