Kazakhstan interested in German technology transfer and joint projects: President

The Head of the State noted big potential of the Kazakh-German cooperation. ?To give additional impulse to our relations we can activate collaboration in establishment of new productions, technologies transfer, implementation of mutually beneficial projects in manufacturing sector, engineering, especially in the sphere of oil and gas, and agriculture?, the President said. Kazakh leader announced that the National Welfare Fund ?Samruk-Kazyna? in association with ?Mackenzie? Consulting Company drew up a list of priority projects that would be offered to investors. In particular, there are projects in food industry, petrochemistry, transport logistics. N. Nazarbayev emphasized that the German Diaspora in Kazakhstan and migrants from Kazakhstan living in Germany could become an important link in development of business contacts. Kazakh Minister of Economy and Budget Planning said in an interview to journalists that Kazakh-German mutual investments exceeded USD 3 billion from each side. A number of agreements both on German technologies transfer to Kazakhstan and Kazakh investments to German economy is planned to be signed within the forum. According to the embassy, Kazakh company ?Petraluxe? plans to implement a project of construction of facing materials plant in Saxony. Kazakh investments will make up EURO 35 million. According to the Kazakh Economy Ministry, over 500 German companies including Volkswagen, Bosch, ThyssenKrupp and others work in Kazakhstan. Besides, more than 1.5 thousand German companies actively support trade relations with Kazakh firms. As is known, Kazakhstan exports oil, metals, chemical raw materials to Germany and imports automobiles, equipment and pharmaceuticals.