BAKU, Azerbaijan, June 20. Kazakhstan invites German companies to invest in green energy, Kazakhstan's President Kassym-Jomart Tokayev said during a meeting with Germany's President Frank-Walter Steinmeier, Trend reports.
In particular, the sides welcomed the launch of the construction of a plant for the production of green hydrogen, implemented by the German-Swedish Svevind Energy company. It was noted that the volume of investments in this project is $50 billion.
Furthermore, the discussions also focused on the enhancement of trade and economic collaboration. Germany holds a significant position as one of Kazakhstan's key trade, economic, and investment partners within the EU. Kazakhstan contributes to over 80 percent of Germany's external trade volume with Central Asian countries.
Other priority areas of bilateral cooperation included energy, manufacturing industry, engineering, transportation and logistics, renewable energy, rare earth metals, and agriculture. In this context, Kazakhstan's president invited German companies to invest in green energy.
Germany's President Frank-Walter Steinmeier is currently on a visit to Kazakhstan at the invitation of the country's President Kassym-Jomart Tokayev. His visit will last until June 21. As part of his visit, Frank-Walter Steinmeier will participate in the opening of the Kazakhstan-Germany Engineering Institute and the launch ceremony of test drilling at the plant for the production of green hydrogen by the Svevind Swedish-German company.