AKIPRESS.COM - German investors commended Kazakhstan’s investment potential and agreed to develop a roadmap for expansion of Kazakhstan-Germany investment cooperation and to create a list of joint strategic projects - the outcome of the Foreign Minister’s visit to Berlin, the Foreign Ministry of Kazakhstan reported.

During the first official visit to Germany on 20 August 2019, the Minister of Foreign Affairs of Kazakhstan Beibut Atamkulov led the Kazakhstan-German business roundtable. The leadership of the German Eastern Business Association and 20 large German companies with a combined capitalization of over $ 180 billion, including Linde Group, GEA Group, Deutsche Post, TUI Group, CLAAS KGaA mbH, Schaeffler Technologies AG & Co. KG, Deichmann SE, LEMKEN GmbH & Co. KG, as well as Tönnies Holding ApS & Co. KG, Böhmer GmbH, among others, attended the event.

The participants of the roundtable conducted bilateral negotiations, discussed the country's investment climate, experience of operating in Kazakhstan and outlined further prospects for mutually beneficial cooperation in the fields of machinery building, agribusiness, petrochemistry, construction, transportation, light industry and others.

Atamkulov explained in detail key development areas of Kazakh economy. German business was invited to participate in implementation of programms for industrialisation, digitalisation, economy of “simple things”, development of green economy, Astana International Financial Center, etc.

Established business connections, including the Intergovernmental Working Group on Trade and Economic Cooperation, the Kazakh-German Business Council, the Berlin Eurasian Club, facilitate further investment cooperation. The Agreement on partnership in commodity, industry and technology fields signed during the visit of the First President of Kazakhstan - Elbasy Nursultan Nazarbayev to Berlin in February 2012 plays an important role.

During the discussion, the Deputy CEO of Kazakh Invest Rustam Issatayev elaborated on the investment opportunities for German companies in Kazakhstan, growth prospects and measures of state support for investment activities. He noted that intensive negotiations were being conducted with five companies expressing interest in implementing investment projects in Kazakhstan.

The speakers from the German side shared their experience of operating in Kazakhstan, emphasising the advantages of an access to the nearby markets of the EAEU, China, the Middle East, Central Asia and wide opportunities for business expansion and investments. The German business showed particular interest in the country’s agribusiness - from livestock and food industries to agricultural machinery and production of flaxseed oil and mineral fertilisers.

The sides agreed to develop a roadmap for enhancement of Kazakhstan-Germany investment cooperation and to create a list of joint strategic projects.