According to the Kazakh Invest national company’s press service, prospects for cooperation were explored at a Jan. 31 Kazakhstan-Bavarian Investment Roundtable in Munich, the capital of Bavaria, by Kazakh and German officials and business leaders.
Kazakh investment potential’s attraction for expanding Kazakh-German cooperation was highlighted by Deputy Minister of Foreign Affairs Almas Aidarov.
German business leaders were encouraged by Aidarov to invest in Kazakh energy, raw materials, industrial and machinery projects and to develop cooperation in the transport and logistics, agriculture, education, science, and IT sectors.
Government preferences were focused on by Kazakh Invest Chairman Meirzhan Yussupov. Transportation and logistics network, promising opportunities and the country’s investment climate were among the questions asked by German business people.
Aidarov and Yussupov led the Kazakh delegation in Bavaria and held meetings with German companies.
The possibility of creating a scientific and innovative competence centre for working with polyamides and metal powders was addressed by the sides at a meeting with Markus Glasser, Senior Vice President of EOS GmbH, a global technology leader for industrial 3D printing of metals and polymers. A partnership agreement was signed by EOS GmbH and Satpayev Kazakh National Research Technical University following the meeting.
Plans to produce polyethylene wax and nano-particle products using a unique technology in Kazakhstan were announced by Sergej Schmitke, CEO of GS-Bavaria GmbH, a metal powder supplier in nanoparticle size.
Bilateral trade turnover reaching $2.36 billion in 2022 (a 7 percent increase over the previous year ($2.2 billion) makes Germany one of Kazakhstan’s most important partners in the European Union.
More than $5 billion have been invested Germany in foreign direct foreign investments in Kazakhstan’s economy since 2005, most of which has flowed to the processing and manufacturing industries. 52 projects worth more than $4 billion are included in the list of Kazakh-German investment projects.