Kazakhstan's Trade Turnover With Germany Keeps Rising Substantially

(MENAFN- Trend News Agency)

ASTANA, Kazakhstan, September 16. Over the past seven months, the volume of trade turnover between Kazakhstan and Germany amounted to more than $2.3 billion, Kazakh President Kassym-Jomart Tokayev said during the talks in the extended format with German Chancellor Olaf Scholz, Trend reports.

“Last year, bilateral trade turnover grew almost 1.5 times and amounted to about $4 billion. Positive dynamics are also observed this year. In the last seven months, the volume of mutual trade has exceeded $2.3 billion. The direct investments from Germany since 2005 amounted to about $6.7 billion," the president emphasized.

Tokayev mentioned that a whopping 90 percent of these funds are tied up in the non-resource sector, and there are over a thousand companies with a slice of German capital making waves in Kazakhstan today.

The meeting, with all hands on deck from official delegations, also chewed the fat on ways to broaden the strategic partnership between the two countries. The significance of the Chancellor's inaugural official visit to Kazakhstan was highlighted as a cornerstone of the meeting.

President Tokayev remarked that a small group addressed trade, economic, and investment integration cooperation. World affairs like geopolitics, security, regional development, and climate change were also discussed.

The president conveyed assurance that the negotiations would enhance bilateral relations and fortify the strategic alliance.

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