BAKU, Azerbaijan, October 31. The volume of directs German investments in Kazakhstan's economy grew by 25 percent and exceeded $320 million in 2021, Prime Minister of Kazakhstan Alikhan Smailov said during his meeting with Minister of Foreign Affairs of Germany Annalena Baerbock, Trend reports citing Kazakh government.
He stressed that Germany is the most important commercial, economic and investment partner of Kazakhstan in the EU. In this regard, Kazakhstan, despite the continuing negative factors in the global economy, is determined to maintain and strengthen a high level of interaction with Germany.
Smailov noted that trade turnover between the countries grew by more than six percent last year and amounted to $2.2 billion. At the same time, consistent growth also continues this year.
"Kazakhstan sees a significant potential for building up investment cooperation and increasing the volume of mutual trade," he said.
According to Smailov, one of the successful examples of cooperation between the countries is the planned project for the construction of energy complex for production of "green" hydrogen with the installation of wind and solar power plants with a total capacity of 45 GW.
"This is the largest projects of this kind in the world today, but far from the limit for Kazakhstan in this area. I believe that the country has all the opportunities to become one of the leading centers for the production of green hydrogen on a global scale,” he stated.