President Tokayev Consolidates Ties with Leading German Companies

ASTANA – Following the business roundtable organized by the German Committee on Eastern European Economic Relations on Sept. 28 in Berlin, President of Kazakhstan Kassym-Jomart Tokayev conducted several meetings with major German companies across key sectors, reported the Akorda press service.

Edna Schöne and Kassym-Jomart Tokayev.

Bilateral meeting with Euler Hermes

During the meeting with Edna Schöne, executive board member of Euler Hermes, the participants discussed the prospects for strengthening economic cooperation, including developing joint projects, exchanging experience, and organizing training programs in financial insurance.

Tokayev emphasized that Euler Hermes serves as a valuable partner for Kazakhstan. The company is a global leader in credit insurance and is part of the Allianz Group, the world’s largest provider of integrated financial solutions.

The President was informed about the signing of the agreement on financial cooperation between the Development Bank of Kazakhstan and Helaba Bank to finance the construction of a chemical plant for the production of sodium cyanide by AltynAlmas Reagents, with an investment of up to 100 million euros ($105.8 million).


Prospects for cooperation in healthcare and pharmaceuticals were discussed during the meeting with Christos Gallis, vice president of STADA Group, one of the leading manufacturers of high-quality pharmaceuticals.

Christos Gallis and Kassym-Jomart Tokayev

Tokayev noted that STADA is one of the three leading companies in the Kazakh market in the segment of consumer health products and referenced the opening of the company’s office in Almaty.

The President emphasized the efforts made by Kazakhstan to create a biotechnology cluster and encouraged STADA to collaborate with the national holding QazBioPharm in research and production.

In turn, Gallis expressed interest in deepening cooperation and stressed the company’s readiness to explore opportunities to invest in medical projects and programs in Kazakhstan.

Hamburger Hafen und Logistik AG

The President also held talks with Angela Titzrath, CEO of Hamburger Hafen und Logistik AG (HHLA), a leading European logistics company with an extensive network of seaport terminals in Hamburg, Odessa, Tallinn, Trieste, and intermodal hubs in Central and Eastern Europe.

Kassym-Jomart Tokayev met with Angela Titzrath. Photo credit: Akorda

During the meeting, the sides discussed prospects for strengthening cooperation between Kazakhstan and Germany in the transport and logistics sector.

Tokayev welcomed HHLA’s decision to open a branch in Kazakhstan, emphasizing the industry’s strategic importance to Kazakhstan, as the country intends to strengthen its position as a key transit hub in Eurasia.

The President highlighted Kazakhstan’s interest in obtaining financing for purchasing new dry and liquid cargo tankers and the modernization of the ports of Aktau and Kuryk on the Caspian Sea.

HMS Bergbau AG

At a meeting with Dennis Schwindt, CEO of HMS Bergbau AG, one of Germany’s leading independent solid minerals exploration and production companies, Tokayev underlined Kazakhstan’s commitment to offering foreign investors favorable conditions for the effective implementation of projects.

Dennis Schwindt.

The President said Kazakhstan is endeavoring to establish a favorable regulatory ecosystem for the mining industry.

Schwindt presented a project on mining lithium reserves and establishing a processing plant in the East Kazakhstan Region with planned investments worth $500 million.

Tokayev emphasized the importance of such projects for the country’s economy and for maintaining its competitiveness on the global stage.

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