Kazakhstan and Germany Take Practical Steps to Strengthen Investment Ties
On December 5, 2023, the 42nd meeting of the Berlin Eurasian Club (BEC) was held in Germany’s capital city under the theme “Current Financial Instruments for Developing Economic Relations between Kazakhstan and Germany.” The hybrid-format event brought together about 100 representatives from political and business circles, business associations, and the expert community. The Kazakh delegation included Nurlan Onzhanov, the Ambassador of Kazakhstan to Germany, Olzhas Saparbekov, Vice Minister of Industry and Construction of Kazakhstan, and Madiyar Sultanbek, Deputy Chairman of the Board of JSC “NC “KAZAKH INVEST.”
In her address, Gerlind Heckmann, Head of the Department for Promotion and Financing of Foreign Trade at Germany’s Federal Ministry for Economic Affairs and Climate Action, emphasized the German government’s interest in expanding economic relations with Kazakhstan. She highlighted several newly introduced support mechanisms for German businesses, aimed at facilitating the implementation of projects in Kazakhstan. A notable example is the inclusion of Kazakhstan in October 2023 in a list of 34 countries eligible for special investment guarantees provided by the Federal Government. Additionally, in September 2024, the Federal Ministry for Economic Affairs and Climate Action announced the launch of Germany’s Raw Materials Fund, designed to provide additional support to German companies implementing resource extraction and processing projects.
During the event, Madiyar Sultanbek participated in a panel discussion where the financial support tools implemented by the governments and development institutions of both countries, as well as prospects for their further improvement, were discussed.
On December 5, the Fourth Meeting of the Kazakhstan-Germany working group on project financing was also held. On the sidelines of this meeting, cooperation memorandums were signed between “Lanxess AG” and “Kazakh Invest” National Company, as well as between “AKA Bank” and the Export Credit Agency of Kazakhstan.
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The Berlin Eurasian Club (BEC) serves as a unique dialogue platform. Its meetings are held annually in Astana, Brussels, and Berlin. Over its 10 years of existence, the Club has become an effective mechanism for direct interaction between representatives of business circles interested in mutually beneficial cooperation, government officials, and the expert community of the two countries.
