Kazakhstan, Germany sign over 30 bilateral docs
BAKU, Azerbaijan, Dec.6
By Nargiz Sadikhova - Trend:
Kazakhstan and Germany signed 30 commercial and non-commercial documents worth $2.4 billion, Trend reports with reference to the press office of Kazakh Invest National Company.
This signing took place during two-day official visit of Kazakhstan’s President Kassym Jomart Tokayev to Germany.
According to Chairman of the Management Board of Kazakh Invest Baurzhan Sartbayev, one of the main signed documents is the joint plan for investment cooperation strengthening between Kazakh Invest and German Eastern Business Association, which defines prioritized areas of cooperation.
As noted during meetings held within the visit, Germany is the key European partner of Kazakhstan, and 86 percent of Germany’s trade with Central Asia accounts for Kazakhstan.
Bilateral trade turnover value between countries amounted to $2.1 billion in 2018, whereas trade turnover during nine months of 2019 amounted to $1.3 billion.
Furthermore, $5.2 billion of investments in Kazakhstan were allocated by German companies over 14 years. Over 80 percent of the German investments in Kazakhstan account for non-commodity sector.
Currently, over 900 German companies operate in Kazakhstan, including Linde AG, Heidelberg Cement, BASF, Knauf, Siemens, Wilo, CLAAS, Volkswagen, Mann, Bayer, and METRO.
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