Kazakhstan, Germany Boost Economic Collaboration Through Fresh Agreements

(MENAFN- Trend News Agency) ASTANA, Kazakhstan, September 25. Kazakhstan and Germany reaffirmed strong economic cooperation and signed key agreements to boost trade, industry modernization, and strategic partnerships during the fifteenth meeting of their Intergovernmental Working Group in Astana, Trend reports via the country's Ministry of Industry and Infrastructure Development.

The meeting was chaired by co-chairs from Kazakhstan - Minister of Industry and Infrastructure Development Yersayin Nagaspayev, and from Germany - Director of the Department of Foreign Policy of the Federal Ministry for Economic Affairs and Energy of Germany Ralf Böhme. The delegations presented a comprehensive view of the current agenda and future projects.

Following this meeting, the following agreements were signed between the two countries:

A Memorandum of Cooperation between Deutsche Bahn and JSC “QazIndustry”;

A Joint Statement of Intent regarding the trade promotion program for small and medium-sized enterprises "Partnering in Business with Germany" and the“Business Links” instrument between the Ministry of National Economy of Kazakhstan and the Federal Ministry for Economic Affairs and Energy of Germany;

A Cooperation Agreement on financing through the Export Credit Agency (ECA) between the Development Bank of Kazakhstan and AKA Bank.

The parties confirmed mutual interest in expanding trade-economic and cultural-humanitarian ties, launching new joint productions, strengthening energy, food, and raw material security, as well as technology transfer and digitalization - as the foundation for modernization of industries. The next step will be to detail project roadmaps and mechanisms for their implementation.

“The IGWG serves as a key platform for substantive discussions: from strengthening strategic partnership and increasing trade - to cooperation in production, supply chain resilience, and technological exchange. Participants highlighted areas capable of delivering a rapid multiplicative effect for both economies,” the statement said.

The Intergovernmental Working Group was established in 2003 as a mechanism to coordinate economic cooperation. The agenda of the meetings traditionally covers industrial cooperation and raw material projects, transport and logistics, attracting investments and financing, as well as workforce training and“green” technologies in water and energy supply.

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