Kazakhstan and Germany agree on cooperation in economic sphere
The meeting was also attended by the Kazakh delegation consisting of representatives of various companies from Kazakhstan including JSC "Development Bank of Kazakhstan", JSC "National Agency for Technological Development", JSC "Kazyna Capital Management" JSC "CI" KazExportGarant ", JSC "Entrepreneurship development fund "Damu", JSC "Investment Fund of Kazakhstan". Today Germany is a reliable and constructive partner of Kazakhstan which from the first days of independence has provided unwavering support to our country on various issues. Thus, over the last three years 72 investment and trade agreements worth €4 billion have been signed between Kazakhstan and Germany. In addition the countries have implemented 12 investment projects worth €700 million. "Over the years of cooperation the German business community invested in Kazakhstan about $3.1 billion. The total volume of foreign investment is around 2.5%," informed Mr. Bishimbayev speaking at a meeting of the Business Council. Chairman of "Baiterek" holding told about the work carried out by the holding and its subsidiaries in various fields. In addition, K. Bishimbayev informed about the five institutional reforms announced by President of Kazakhstan Nursultan Nazarbayev. "It is expected to attract at least 10 transnational corporations in the processing sector of Kazakhstan to create export-oriented goods. In the future the state's share in the joint ventures will be transferred to IPOs," informed K. Bishimbayev. President of Kazakhstan Nursultan Nazarbayev has outlined the five strategic areas including textile, automotive, chemical industry, glass production, food processing and agriculture. In turn, German companies have expressed interest and willingness to cooperate with Kazakhstan in these areas. Kazakh delegation also held a series of bilateral meetings and talks with the heads of major German companies, engineering enterprises and institutions. In particular, in the framework of the Business Council K.Bishimbaev has met with the head of the German company Chemieanlagenbau Chemnitz GmbH (S.AC). The sides discussed various range of issues of mutual cooperation. Chairman of "Baiterek" also held talks with representatives of various German companies working in MMC, textile industry, mechanical engineering, etc. In addition, bilateral meetings were held with the management of METRO Cash & Carry and Volkswagen Group. Following the talks it is expected to sign a number of documents on cooperation, the press service of Baiterek reported. NOTE: To date more than more than 1,500 economic entities with the participation of German capital including joint ventures registered in Kazakhstan. Local and German companies collaborate in manufacturing industry, construction, transport and communications, agriculture, social and personal services etc.
