August 3, 2020

Merkel and Tokáyev agree to boost German investments in Kazakhstan

German Chancellor Angela Merkel and the President of Kazakhstan, Kasim-Yomart Tokáyev, agreed today to seek formulas to boost German investments in the country of Central Asia, as well as an intensification of economic and political relations.

Merkel said that cooperation agreements can be reached with Kazakhstan in different fields, such as in the promotion of renewable energy and water management.

"Now we can reach a series of agreements with Kazakhstan, for example in the field of green economy. The country begins to boost renewable energy, we can also help in water management," said Merkel.

Tokáyev recalled that Germany currently ranks 12th in foreign investments in Kazakhstan, so there is room for improvement.

"We have talked about it and I hope there will be an improvement in the coming years. We are addressing specific cases, such as about 700 companies that will be privatized and that may interest German investors," he said.

Bilateral trade between Germany and Kazakhstan amounts to about 5,000 million euros annually, with a deficit for Germany due to gas and oil imports.

"These imports are part of the diversification of energy supply and that is why relations with Kazakhstan are important for us," said Merkel.

Tokáyev's visit to Germany is the first one he has made to an EU member country since he took office, which, according to the president, shows the importance he gives to bilateral relations.

"The purpose of my visit is to give a boost to our bilateral relations, to our economic relations and also to our political cooperation," he said.

Another point that the two politicians touched was that of dual vocational training, in which Tokáyev stressed that his country is taking advantage of German experiences.

"Dual training offers many possibilities for our economy and it is not a secret that we have taken advantage of German experiences," he said.

Merkel, meanwhile, said that the more German entrepreneurs invest in Kazakhstan, the more impulses the dual training model will receive.

Politically, Merkel said they had spoken "openly about the right to demonstrate and human rights in Kazakhstan" and welcomed the fact that Tokáyev intends to liberalize the right of assembly.

Tokáyev will participate tomorrow in a meeting with businessmen jointly organized by the embassy of Kazakhstan and the German Business Association for Eastern Europe.

. (tagsToTranslate) Merkel (t) Tokayev (t) agree (t) investments (t) Kazakhstan

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