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Kazakhstan and Germany sign cooperation agreements worth some 4 billion euros

The two leaders believe that the signing of the intergovernmental partnership agreement opens up broad prospects for the economies of Kazakhstan and Germany

BERLIN, February 9 (Itar-Tass) — During President Nursultan Nazarbayev’s visit to Germany the economic ministers and heads of companies of Kazakhstan signed several agreements and concluded about 50 commercial contracts worth about 4 billion euros.

“After a meeting of President Nazarbayev of Kazakhstan with German Chancellor Angela Merkel, a ceremony of signing agreements between the Government of Kazakhstan and the Government of Germany on partnership in the raw materials, industrial and technological spheres was held in the presence of the two leaders. The document was signed by Kazakh Minister of Economy and New Technologies Asset Issekeshev and German Vice Chancellor, Federal Minister of Economics and Technology Philipp R·sler, and State Secretary of the German Federal Foreign Office Harald Braun,” the press service of the Kazakh president reported.

“Germany is interested in the expansion of its investments in the Kazakhstani economy,” Merkel said summing up results of her talks with the Kazakhstani president. In her opinion, the potential of the economic interaction between of the two countries is not used in full. “We will continue our intensive and constructive dialog,” the German federal chancellor said.

The two leaders believe that the signing of the intergovernmental partnership agreement in the raw materials, industrial and technological spheres opens up broad prospects for the economies of Kazakhstan and Germany. Nazarbayev emphasised that in recent years, thanks to his agreements with German Chancellor Merkel, the focus in the trade-economic relations between the two countries was shifted from the oil and gas sector towards projects in the field of high-tech. Kazakh president assessed the visit to Germany as a very successful one and called it a “real breakthrough” in bilateral relations.

Nazarbayev said that “over the years, we have set up a good legal foundation. We signed more than 30 interstate documents.” “In 2011, our bilateral trade reached five billion euros. There are about 1,200 companies with German capital registered in Kazakhstan,” Nazarbayev said.

According to an official Astana, “German companies will be able to conduct exploration and production in Kazakhstan’s natural resource fields, to build plants for the development and processing of raw materials, as well as produce goods for future exports, including on the markets of the Customs Union and the Common Economic Space. German advanced technologies can be widely used in the Kazakh economy, which is especially important in connection with the implementation of the State Program of accelerated industrial and innovative development in Kazakhstan.”

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