On May 15, 2024, the fortieth meeting of the Berlin Eurasian Club, an important dialogue platform for discussing the prospects for the development of trade and economic cooperation between countries, took place.

Within the framework of the club, a panel session was held “Implementation of the partnership agreement in the raw materials, industrial and technological spheres in the new institutional and legal framework.” Azamat Panbaev, Chairman of the Industry Committee of the Ministry of Industry and Construction of the Republic of Kazakhstan, made a presentation emphasizing the importance of cooperation with Germany, which is Kazakhstan’s key partner in the EU.

“Currently, industrial cooperation between Kazakhstan and Germany includes 49 projects totaling about 53.6 billion US dollars (24 trillion tenge), which will create more than 6.6 thousand jobs. Among the promising projects is the production of agricultural machinery from CLAAS. The volume of investment will be $88.7 million (3.9 billion tenge), 100 jobs will be created, the design capacity is 300 units of equipment per year. This year the company plans to produce 100 tractors and 200 combines,” noted A. Panbaev.

Germany and Kazakhstan are bound by a number of intergovernmental agreements aimed at deepening trade and economic cooperation, encouraging investment and mutual protection. In addition to the Berlin Eurasian Club, the Intergovernmental Working Group on Trade and Economic Cooperation and the Special Government Working Group are actively working.

The Government of Kazakhstan provides comprehensive support to investment projects.Foreign investors can count on fiscal incentives (subsidies, exemption from corporate income tax, VAT, land tax and property tax) and non-fiscal incentives (free provision of land and necessary infrastructure).

At the end of his speech, Azamat Panbaev expressed gratitude to representatives of the Eastern Committee of the German Economy and German business for their significant contribution to expanding cooperation between the two countries.

gov.kz

translated by Qazalem