10 documents signed at Kazakh-German Business Council meeting

The 15th meeting of the Kazakh-German Business Council, that brought together representatives of key ministries, business associations as well as companies of Kazakhstan and Germany, took place, Kazinform News Agency reports.

Among the participants were major German agricultural machinery manufacturers, industrial enterprises and financial institutions, such as German Agribusiness Alliance, Siemens, Siemens Energy, Deutsche Bahn, KfW Banken Gruppe, Deutsche Bank, Helaba, Euler Hermes, DF Deutsche Forfait, CT Agro, CLAAS KGaA, Svevind Energy, Flight Design General Aviation.

The meeting focused on the promotion of trade and economic cooperation, investment and joint projects in the agro-industrial complex as well as manufacturing.

The co-chairs noted the importance of the meeting that took place ahead of the visit of German Chancellor Olaf Scholz to Astana. Germany is a major trade partner of Kazakhstan in the EU, while Kazakhstan is among the top 50 foreign trade partners of Germany.

The bulk of German investments falls at the non-primary sector of Kazakhstan, including manufacturing, chemical industry and transport. Within the meeting, 10 documents were signed, including agreements of cooperation and on construction of a Flight Design Kazakhstan plant.

Established in 2010, the Kazakh-German Business Council effectively attracts German investments in the Kazakh economy. There are 752 enterprises with the German capital in Kazakhstan.