Trade turnover between Kazakhstan and Germany grows significantly

The trade turnover between Kazakhstan and Germany reached 1.7 billion euros in eight months of 2022, Kazakh Foreign Minister Mukhtar Tleuberdy said at a meeting with German Foreign Minister Annalena Berbock. He also announced Kazakhstan’s readiness to provide German partners with special preferences in exchange for investments, Kazinform reports.

During the meeting of the two ministers, issues in the field of transport and logistics, agriculture, energy and cultural and humanitarian cooperation were considered.

Kazakhstan is a reliable partner for the supply of minerals, food products, crude oil and other energy resources to Germany and Europe, Tleuberdi said at the meeting.

He announced the readiness of the Kazakh side to provide German partners with special preferences in exchange for large-scale investments and the transfer of German technologies.

In 2022, the volume of German direct investment in the economy of Kazakhstan increased by 25% and exceeded $320 million. Trade between the countries in 2021 also grew by more than 6%, amounting to more than $2.2 billion.

Prime Minister of Kazakhstan Alikhan Smailov, at a meeting with Belbok, stressed that one of the successful examples of cooperation between the countries is the planned project for the construction of an energy complex for the production of “green” hydrogen with the installation of wind and solar power plants with a total capacity of 45 GW.

“This is the largest project of its kind in the world today, but far from the limit for Kazakhstan in this area. I believe that our country has every opportunity to become one of the leading centers for the production of green hydrogen on a global scale,” Smailov emphasized.

In turn, Burbock announced the opening of an office for German hydrogen diplomacy in Astana. The new structure of energy interaction, which is planned to be created with the support of the German Foreign Ministry, is designed to systematize practical interaction between countries in building a sustainable fuel and energy cycle.

The trade turnover between Kazakhstan and Germany in the first half of 2022 increased by 1.6% and amounted to $1.2 billion. According to the Minister of Industry and Infrastructure Development of Kazakhstan, Kairbek Uskenbayev, within the framework of Kazakh-German cooperation in the industrial sector, 14 projects were implemented for a total the amount of $719.4 million with the creation of more than 2.2 thousand jobs.

German Foreign Minister Belbock, after completing her visit to Kazakhstan, left for Uzbekistan.,
Oct. 31, 2022