Baiterek Holding expands collaboration with German business community

With the support of the Embassy of Kazakhstan in Germany, Baiterek Holding participated in a meeting on project co-financing and held discussions with prominent German financial institutions, including Euler Hermes, KfW, Deutsche Bank, Helaba, and German Agribusiness Alliance. These meetings focused on exploring opportunities for bilateral cooperation in the agro-industrial complex (AIC) and trade finance sectors.

Baiterek Holding places significant emphasis on developing partnerships with Germany, serving as an official partner of Euler Hermes. Rustam Karagoishin, Chairman of the Board of Baiterek Holding, also serves as Deputy Co-Chairman of the Kazakh-German Business Council and co-chairs the working group on project co-financing and risk hedging.

"Cooperation with Euler Hermes and leading German financial institutions is important for executing major investment projects. Kazakhstan actively attracts German technology and financing, offering long-term contracts to German manufacturers. This partnership opens new opportunities and strengthens both nations' positions in the global market," noted Rustam Karagoishin.

Euler Hermes, a global leader in credit risk insurance, actively collaborates with Baiterek Holding on insurance and loan guarantee solutions, helping to mitigate risks and create more stable financing conditions for investment projects.

With growing interest from German investors in Kazakhstan’s non-resource sectors, Baiterek Holding plays a key role in supporting and expanding financing in these areas.

Baiterek’s leadership, along with representatives from its subsidiaries – Aidar Prashev of KazAgroFinance; Alen Chayzhunusov of KazakhExport Export Credit Agency of Kazakhstan; and Botagoz Abisheva of Development Bank of Kazakhstan – held discussions with major German financial institutions.

In 2024, Baiterek Holding’s subsidiary, KazakhExport, was officially recognized as a full-fledged export credit agency. It became the first of its kind in Central Asia and now operates on par with Euler Hermes. KazakhExport's current risk exposure stands at EUR 950 million, backed by a state guarantee of over EUR 1 billion. The agency holds Moody’s Baa2 financial strength rating with a positive outlook.

Deputy Chairman of the Management Board, Timur Onzhanov, emphasized the importance of the agro-industrial sector as a priority for German investors. He highlighted Baiterek Holding's commitment to introducing advanced technologies into Kazakhstan's agriculture industry and noted numerous proposals for collaboration in the agro-industrial complex.

"We are dedicated to supporting domestic farmers and advancing Kazakhstan’s agricultural sector by offering innovative solutions and programs that can foster growth and prosperity in the region," said Timur Onzhanov.

KazAgroFinance, another subsidiary of Baiterek Holding, has been providing leasing services to domestic farmers for purchasing agricultural machinery and equipment since 2004. The company has maintained long-term partnerships with German suppliers and manufacturers of agricultural machinery. To date, KazAgroFinance has acquired 4,062 units of leased equipment worth EUR 316.4 million, including 3,838 units of agricultural machinery from Germany.

Germany remains Kazakhstan's largest trading partner within the European Union, while Kazakhstan ranks among Germany's top 50 foreign trade partners, holding the 45th position.

The Kazakhstani delegation, led by First Deputy Prime Minister Roman Sklyar, is currently in Berlin from August 27 to 29, attending the 15th meeting of the Kazakh-German Business Council.