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