Baiterek Holding draws German investments into Kazakhstan’s non-resource sector

The 15th meeting of the Kazakh-German Business Council for Strategic Cooperation took place in Berlin, bringing together representatives from Baiterek National Management Holding, various Kazakhstani industry ministries, and prominent domestic business leaders.

Since its establishment in 2010, the Kazakh-German Business Council has served as a vital platform for fostering dialogue between the business communities of both countries and has played a significant role in attracting German investment into Kazakhstan’s economy.

In 2024, First Deputy Prime Minister Roman Sklyar assumed the role of co-chairman of the council on behalf of Kazakhstan, with Rustam Karagoishin, Chairman of the Board of Baiterek Holding, appointed as deputy co-chairman.

The meeting focused on strengthening trade and economic cooperation, increasing investment, and implementing joint projects in the agro-industrial and processing industries.

"Through our Business Council, we reinforce political ties and lay the groundwork for long-term partnerships that promote stability and prosperity in the region and beyond. In 2023, Baiterek Holding provided €5.6 billion in financing to Kazakhstan’s non-resource sector. We continue to deepen bilateral relations, particularly in the agro-industrial sector, and see tremendous potential for further collaboration with German investors," said Rustam Karagoishin.

Key participants included German agricultural machinery manufacturers, industrial enterprises, and major financial institutions, such as the German Agribusiness Alliance, Siemens, Siemens Energy, Linde, Deutsche Bahn, KfW Banken Gruppe, Deutsche Bank, Helaba, Euler Hermes, DF Deutsche Forfait, CT Agro, CLAAS KGaA, Svevind Energy, and Flight Design General Aviation. Notably, the Chairman of the Eastern Committee of German Economy and Chair of the CLAAS Group, Catrina Claas-Mühlhäuser, was also in attendance.

The co-chairs underscored the importance of the meeting, which occurred ahead of the scheduled visit of German Chancellor Olaf Scholz to Astana in September.

Germany remains Kazakhstan’s largest trading partner within the European Union, with Kazakhstan ranking among Germany’s top 50 foreign trade partners, currently in 45th place. A significant portion of German investment is directed toward Kazakhstan's non-resource sectors, particularly in the processing industry, chemicals, construction materials, transportation, and agro-industrial sectors.

During the council meeting, 10 agreements were signed, including a Framework Agreement on the Development of Investment Cooperation, a Memorandum of Understanding between the Saarbrücken Chamber of Commerce and Industry and Kazakh Invest National Company, several memorandums of cooperation between Kazakhstani and German companies, and an agreement for the construction of the Flight Design Kazakhstan plant.