Kazakhstan and Germany strengthen investment cooperation

On December 5, 2024, the 42nd meeting of the Berlin Eurasian Club (BEC) took place in Berlin spotlighting the economic ties between Kazakhstan and Germany. The event gathered approximately 100 representatives from political and business communities, and experts from both countries.

Kazakhstan was represented by its Ambassador to Germany, Nurlan Onzhanov, Vice Minister of Industry and Construction Olzhas Saparbekov, and Deputy Chairman of Baiterek National Management Holding, Timur Onzhanov.

Timur Onzhanov participated in a panel discussion focusing on financing initiatives undertaken by government and development institutions in both nations.

"Kazakhstan aims to attract €137 billion in foreign investments by 2029, with a strong focus on non-resource sectors. We are ready to support investors with project financing, direct investments, and export credit insurance,” he stated.

The discussions also emphasized the Trans-Caspian transport route, which links China and Europe through Central Asia, creating significant opportunities for German businesses. Moreover, the parties explored prospects for cooperation in the extraction and processing of critical raw materials, positioning Kazakhstan as a potential key partner for the EU.

During the event, Export Credit Agency of Kazakhstan (a subsidiary of Baiterek Holding) and AKA Ausfuhrkredit-Gesellschaft mbH formalized their partnership by signing a Memorandum of Cooperation.

Background information:

The Berlin Eurasian Club (BEC) annually convenes business leaders, experts, and officials from Kazakhstan and Germany. Over the past decade, BEC has proven to be a vital tool in advancing economic cooperation between the two nations, with meetings traditionally held in Astana, Brussels, and Berlin.

The Kazakh-German Working Group on Financing Joint Projects focuses on implementing investment initiatives to develop Kazakhstan's non-resource economy and strengthen its economic ties with Germany.