Germany ranks among leading trade partners of Kazakhstan - Nazarbayev

08:31, 9 February 2012

BERLIN. February 9. KAZINFORM /Marlan Zhiembay/ Germany ranks among the leading trade partners of Kazakhstan, President Nursultan Nazarbayev said during a working lunch with representatives of German business circles.

For example, last year the trade turnover between the two countries exceeded EUR 5 billion. At the same time, direct investment from Germany to Kazakhstan's economy is more than EUR 825 million. Of these, 40 percent of investment came in the last three years.

During the visit of the German Chancellor to Kazakhstan in 2010 the two countries signed important agreements totaling EUR 2.3 billion.

Presently, German companies Siemens, Knauf, ThyssenKrupp, Bosh, METRO and financial institutions Deutsche Bank, DEG operate in Kazakhstan. For instance, the company METRO Cash & Carry launched in Kazakhstan six supermarkets totaling EUR 130 million. Siemens AG together with JSC Kazakhstan Temir Zholy is working on the EUR 242 million project of railroad electrification in Kazakhstan.

Kazakhstan and Germany Diplomacy News President of Kazakhstan Foreign policy President