President Tokayev Explores Economic Ties with German Business Leader

President Tokayev Explores Economic Ties with German Business Leader

Astana, The Gulf Observer: President Kassym-Jomart Tokayev held a meeting with Katrina Klass-Mühlhäuser, Chairman of the Board of the Eastern Committee of the German Economy and Chairman of the Supervisory Board of the CLASS Group, to explore avenues for further enhancing economic collaboration between Kazakhstan and Germany. The discussions, reported by media citing the Akorda press service, underscored the strategic partnership between the two nations and the growing interest of German businesses in expanding their presence in Kazakhstan.

President Tokayev highlighted Germany’s status as a key strategic partner of Kazakhstan within the European Union, acknowledging the positive trajectory of trade and economic relations between the two countries. Notably, direct German investment in Kazakhstan surged by 64 percent last year, reaching a record high of $770 million, indicative of the strengthening economic ties.

During the meeting, particular emphasis was placed on cooperation opportunities in the agricultural sector. President Tokayev reiterated his proposal to establish a Regional Center for Sustainable Agriculture, envisaging its pivotal role in harnessing Kazakhstan’s agricultural potential, fostering innovation, and facilitating technology commercialization.

The President lauded the contributions of the CLASS assembly plant to the advancement of Kazakhstan’s agricultural sector, underscoring its significance in driving economic growth and enhancing agricultural productivity.

The deliberations between President Tokayev and Chairman Klass-Mühlhäuser exemplify the commitment of both nations to deepening bilateral cooperation across various sectors, reflecting a shared vision for mutual prosperity and development.