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Kazakh president says his country ready to become Europe’s partner in natural resources

The head of the state outlined a number of promising areas for mutual cooperation

ASTANA, September 29. /TASS/. Kazakhstan is ready to become a reliable partner for Germany and other European countries, providing natural resources and other critically important raw materials, Kazakh President Kassym-Jomart Tokayev said at a meeting with a German business delegation.

"The head of the state outlined a number of promising areas for mutual cooperation. In his words, Kazakhstan is ready to become <…> a reliable partner in the area of natural resources and critically important raw materials, required by industrial productions of Germany and Europe," the presidential press service said.

"The global demand for critical materials and rare-earth metals is expected to grow four-fold by 2040. According to the World Bank’s estimates, Kazakhstan has over 5,000 unexplored deposits worth over $46 trillion. That is why I invited [German] Chancellor Olaf Scholz to create a consortium for implementing joint projects in raw materials," Tokayev was quoted as saying in the statement.

During his talks with the German chancellor, held on Thursday, Tokayev suggested setting up a consortium for the implementation of joint projects on raw material development, supported by a bilateral working group on financing projects with private investors from Germany. Scholz, in turn, expressed his interest in increased oil deliveries, diversification of supply routes and implementation of joint infrastructure projects.

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