BAKU, Azerbaijan, September 29. Kazakhstan plans to launch a Kazakhstan-Germany Investment and Industrial Initiative based on a unified portfolio of flagship projects, with the current joint investment portfolio comprising 40 initiatives worth more than $54 billion, President Kassym-Jomart Tokayev said at the Kazakhstan-Germany Business Forum in Berlin today.
According to the press service of Kazakh President, Tokayev described industrial cooperation as one of the key areas of the bilateral partnership.
Of the 40 investment initiatives currently included in the joint portfolio, 21 projects have already been implemented, he said.
Tokayev highlighted successful cooperation with German companies including CLAAS, Horsch, Amazonen-Werke and Knauf. Over the past five years, CLAAS has produced more than 2,100 units of agricultural machinery in Kazakhstan, according to the president.
“Our industrial partnership is becoming a two-way process, as reflected in the growth of Kazakhstan’s industrial exports to Germany. In particular, during my visit, agreements were reached on supplies to the German market of Kazakh-made engineering products, including railway wheels manufactured using German equipment,” Tokayev said.
He said Kazakhstan was ready to expand cooperation with German companies in automation, machine tool manufacturing, industrial robotics, precision engineering, advanced manufacturing and the digitalization of production processes.
“These examples point to the next stage in the development of our economic relations. We should move from individual successful projects to systematic industrial partnership. To this end, Kazakhstan is ready to launch the Kazakhstan-German Investment and Industrial Initiative, based on a unified portfolio of flagship projects,” Tokayev said.
“The goal is practical - to select commercially viable projects capable of creating new industries in Kazakhstan, bringing advanced German technologies and expertise, and ensuring the production of competitive goods for regional and global markets. German Mittelstand companies can play a particularly important role in this area,” he added.
Tokayev also noted that Kazakhstan and Germany could serve as an important bridge for strengthening economic ties between Central Asia and Europe.
