BAKU, Azerbaijan, May 12. Many German companies intend to relocate from Russia to Kazakhstan due to the current geopolitical situation, Executive Director of German Committee on Eastern European Economic Relations Michael Harms said, Trend reports citing Kazakh media.
Harms noted the unfavorable developments in geopolitical terms.
“All of this is causing disruptions in supply chains, higher commodity prices and more. We have already heard about companies, how they are reorienting from Russia to Kazakhstan, to Central Asia. We hear that German companies are planning to relocate from Russia to Kazakhstan,” Harms said during Kazakh-German business forum in Kazakhstan’s Nur-Sultan.
Many German companies have had partners in Russia and they are now planning to take advantage of opportunities in Kazakhstan, he said.
“They want to find a partner in Kazakh market. There is a change in thinking of German business about Kazakhstan and attention to Kazakh market is increasing,” Harms added.
“Potential in Kazakh market is increasingly being recognized by German business. I call on all German companies to join us. Many companies are already contacting us, this is a very good signal for all German companies that are considering possibility of working in Kazakhstan,” Harms concluded.