Kazakhstan, Germany Sign 36 Documents Worth $6.3 Billion at Business Forum in Astana

The official delegations of Kazakhstan and Germany signed 36 documents worth $6.3 billion to develop joint projects in mechanical engineering, innovation, logistics, petrochemicals, healthcare, information technology, and industrial automation during a Sept. 16 business forum in Astana. The forum is among the key highlights of German Chancellor Olaf Scholz’s official visit to Kazakhstan.

Addressing the business forum, President Kassym-Jomart Tokayev thanked Olaf Scholz and representatives of large German businesses for participating in the forum, reported Akorda.

“Close diplomatic relations between our countries are a key factor contributing to the development of a wide range of economic ties, which underlie our comprehensive relations. As one of the largest and most developed economies in the world, Germany sets global standards in manufacturing, technology, green economy and innovation. German products are known for their exceptional quality and reliability,” said the President.

According to Tokayev, bilateral trade turnover increased by 41% last year, totaling $3.9 billion. In 2023, direct investment from Germany also increased by 64%, reaching a record high of $770 million. 

According to the Kazakh Invest national company, between 1992 and 2023, Germany invested more than $6.6 billion in the Kazakh economy. More than 90% of German investments are in non-resource sectors. 

According to the President, Kazakhstan’s strategic location makes it a key intra-regional hub for trade and logistics in Eurasia. He noted that the Trans-Caspian International Transport Route (TITR), also known as the Middle Corridor, is currently the shortest and most reliable route to Europe with a potential throughput of up to 10 million tons of cargo. 

Tokayev proposed linking the Middle Corridor with the Trans-European Transport Network and the EU Global Gateway initiative to support growing trade volumes between east and west.

According to the Kazakh Invest national company, the Kazakh Ministry of Transport and Skyhansa, a Kazakh-German consortium, signed a framework agreement to construct an international airport in the Khorgos—Eastern Gate special economic zone. The joint project, worth $560 million in investments, is expected to be implemented in three stages and create nearly 700 jobs. 

Another transport and logistics industry agreement was the memorandum of understanding between Aktau Commercial Seaport and Rhenus, Germany’s logistics service provider, to build a trimodal container terminal by 2030.

Several documents aim to localize various equipment in Kazakhstan. The cooperation agreement between Baiterek National Holding and CLAAS Global Sales is designed to produce seeders and tractors in the country for $1.1 billion. 

Samruk Kazyna Sovereign Wealth Fund and SIEMENS signed a strategic partnership agreement worth $27 million to localize the production of control and measuring devices in Kazakhstan.

The Baiterek holding and KfW Bankengruppe, a German state-owned investment and development bank, signed a memorandum of understanding for $500 million, which envisions credit financing of renewable energy, energy efficiency, and support for small and medium-sized businesses.

THE ASTANA TIMES

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