German companies ready to invest in Kazakh economy

ASTANA. KAZINFORM Kazakhstan Deputy Prime Minister - Minister of Industry and New Technologies Asset Issekeshev has paid a working visit to Berlin to hold talks with the leaders of the flagship companies of German industry, according to the ministry.

"In order to implement the instructions of the President of Kazakhstan to intensify efforts to attract foreign direct investment, the Kazakh delegation headed by Deputy Prime Minister - Minister of Industry and New Technologies Asset Issekeshev arrived on a working visit to Germany. Plans for further development of German business in Kazakhstan were discussed at the economic forum in Berlin," the press release reads.

Representatives of Siemens, Lanxess, CLAAS Global Sales GmbH, METRO AG, Bosch GmbH, Knauf, HeidelbergCement presented the current and planned projects in Kazakhstan, the primeminister.kz reports.

Such companies as MAGNA EUROPA (production of components for the automotive industry), EVONIC (chemical industry), REM, ROGESSA, SGL Group, ARUBIS, QUAESTA CAPITAL (all - in mining industry), SALZGITTER (metalworking) expressed their interest in carrying out projects in Kazakhstan.

The overall basket of joint projects between Kazakhstan and Germany includes 92 projects. Agreements on 72 projects of them were reached during the last 4 years since the inception of the forced industrial-innovative program of Kazakhstan. 12 projects worth 700 million euros have already been implemented. 15 joint projects worth 1.7 billion euros are at the various stages of implementation.

The program of the two-day visit of the Kazakh delegation included the participation in three major events - the economic forum, the business council and the International Tourism Exhibition ITB Berlin-2014, as well as bilateral meetings with members of the German Government and the heads of major German companies, engineering companies and institutions already working in Kazakhstan and potential investors.

"Last year the volume of bilateral trade exceeded pre-crisis levels having reached 6.5 billion euros. More than 60% of total turnover of Germany with 8 countries of Central Asia and the Caucasus accounts for Kazakhstan. We are sincerely glad to have this positive dynamics of trade and economic cooperation, which is significantly expanding every year," the Deputy Prime Minister said speaking at the economic forum.