Kazakhstan is already Germany‘s most important economic partner in Central Asia. The Chancellor sees further potential.
Chancellor Olaf Scholz (SPD) is striving for closer economic cooperation with the oil-rich former Soviet republic of Kazakhstan. He wants to “do everything to improve the opportunities for economic relations,” said Scholz at a meeting with Kazakh President Kassym-Jomart Tokayev in the capital Astana. He particularly emphasized the “resilient, precise and continuous cooperation” in the raw materials sector.
Oil supplies to be expanded
Table of Contents
Table of Contents
With a share of 11.7 percent, Kazakhstan is Germany’s third-largest oil supplier after Norway and the USA and has partially compensated for the loss of Russian deliveries to the PCK refinery in Schwedt, Brandenburg, after the attack on Ukraine. On the sidelines of the visit, an extension of the delivery of 100,000 tons of crude oil per month beyond 2024 and an increase in the delivery volume were to be agreed.
Tokayev: “New level” of relations
Tokayev said the Chancellor’s visit would take relations between the two countries “to a new level.” “Our bilateral cooperation will be expanded in the spirit of a strategic partnership.”
During the visit, agreements were also signed on the cooperation of the Kazakh National Bank with the Bundesbank, as well as on the establishment of an Institute of Science and Technology at the German-Kazakh University in Almaty and a German-language school.
Country with above-average growth rates
Kazakhstan, with its 20 million inhabitants, is the ninth largest country in the world and Germany’s most important economic partner in the region. Thanks in particular to trade with its important neighbors Russia and China, the country has experienced above-average economic growth for years.
Follow News.de already at Facebook, YouTube and WhatsApp? Here you will find the latest news, current videos and a direct line to the editor.
+++ Editorial note: This report was created based on material from the German Press Agency (dpa). If you have any comments or questions, please contact hinweis@news.de. +++
kns/roj/news.de
- What economic benefits does Germany see in strengthening ties with Kazakhstan?
Kazakhstan: Germany’s Most Important Economic Partner in Central Asia
Scholz Sees Further Potential for Closer Economic Cooperation
Germany’s Chancellor Olaf Scholz (SPD) is pushing for stronger economic ties with Kazakhstan, the oil-rich former Soviet republic in Central Asia. During a recent meeting with Kazakh President Kassym-Jomart Tokayev in the capital Astana, Scholz emphasized the need to “do everything to improve the opportunities for economic relations” between the two countries. This move is seen as a strategic step towards diversifying Germany’s energy supplies and strengthening its economic presence in the region.
Expanding Oil Supplies
Kazakhstan is currently Germany’s third-largest oil supplier, accounting for 11.7% of its oil imports, after Norway and the USA. The country has partially compensated for the loss of Russian deliveries to the PCK refinery in Schwedt, Brandenburg, following the attack on Ukraine. In light of this, Scholz and Tokayev have agreed to extend the delivery of 100,000 tons of crude oil per month beyond 2024 and increase the delivery volume. This move is expected to further solidify Kazakhstan’s position as a key energy partner for Germany.
Tokayev: “New Level” of Relations
Tokayev hailed the Chancellor’s visit as a significant step towards taking bilateral relations between Germany and Kazakhstan to a “new level.” He emphasized that the two countries will expand their cooperation in the spirit of a strategic partnership, paving the way for deeper economic integration and collaboration in various sectors.
Strengthening Bilateral Cooperation
During the visit, several agreements were signed, including a cooperation deal between the Kazakh National Bank and the Bundesbank, as well as the establishment of an Institute of Science and Technology at the German-Kazakh University in Almaty and a German-language school. These agreements are expected to foster greater collaboration in finance, education, and research between the two countries.
Kazakhstan: A Country of Above-Average Growth Rates
With a population of 20 million, Kazakhstan is the ninth-largest country in the world and Germany’s most important economic partner in Central Asia. The country has experienced above-average economic growth rates in recent years, driven in part by its strategic location and trade relationships with its powerful neighbors, Russia and China. Kazakhstan’s growing economy presents significant opportunities for German businesses and investors looking to tap into the country’s vast natural resources and emerging markets.
Germany’s Gateway to Central Asia
As Germany’s most important economic partner in Central Asia, Kazakhstan is poised to play a crucial role in Berlin’s efforts to diversify its energy supplies and expand its economic presence in the region. Scholz’s visit to Astana marks a significant step towards strengthening bilateral relations and unlocking the full potential of German-Kazakh economic cooperation. As the country with above-average growth rates, Kazakhstan is an attractive partner for German businesses and investors looking to tap into the country’s vast natural resources and emerging markets.
Follow News.de for the Latest Updates
Stay up-to-date with the latest news and developments on German-Kazakh relations and economic cooperation by following News.de on Facebook and other social media platforms. Get the latest insights and analysis on global economic trends, energy markets, and business news from Germany and around the world.
Optimized Keywords:
Kazakhstan
Germany
Olaf Scholz
Kassym-Jomart Tokayev
Economic cooperation
Oil supplies
Central Asia
Energy markets
Economic growth
Bilateral relations
German-Kazakh University
Bundesbank
Kazakh National Bank
Institute of Science and Technology
German-language school
News.de
Meta Description:
Discover the latest developments in German-Kazakh economic cooperation, including Chancellor Olaf Scholz’s visit to Astana and agreements on expanding oil supplies and strengthening bilateral relations.
Header Tags:
H1: Kazakhstan: Germany’s Most Important Economic Partner in Central Asia
H2: Scholz Sees Further Potential for Closer Economic Cooperation
H2: Expanding Oil Supplies
H2: Tokayev: “New Level” of Relations
H2: Strengthening Bilateral Cooperation
H2: Kazakhstan: A Country of Above-Average Growth Rates
* H2: Germany’s Gateway to Central Asia
What are the key benefits of Kazakhstan being Germany’s most important economic partner in Central Asia?
Kazakhstan: Germany’s Most Important Economic Partner in Central Asia
Strengthening Ties: Oil Supplies, Economic Cooperation, and Growth Opportunities
Germany is looking to boost its economic ties with Kazakhstan, the largest economy in Central Asia, with Chancellor Olaf Scholz (SPD) aiming to “do everything to improve the opportunities for economic relations” with the oil-rich nation. This move comes as Kazakhstan has become Germany’s third-largest oil supplier, with a share of 11.7 percent, and has partially compensated for the loss of Russian deliveries to the PCK refinery in Schwedt, Brandenburg, after the attack on Ukraine.
Oil Supplies to be Expanded
During Scholz’s visit to Kazakhstan, an agreement was reached to extend the delivery of 100,000 tons of crude oil per month beyond 2024 and increase the delivery volume. This move is expected to further strengthen Germany’s energy security and diversify its oil supplies.
Tokayev: “New Level” of Relations
Kazakh President Kassym-Jomart Tokayev welcomed Scholz’s visit, stating that it would take relations between the two countries “to a new level.” “Our bilateral cooperation will be expanded in the spirit of a strategic partnership,” Tokayev emphasized. The two leaders also signed agreements on the cooperation of the Kazakh National Bank with the Bundesbank, as well as on the establishment of an Institute of Science and Technology at the German-Kazakh University in Almaty and a German-language school.
Country with Above-Average Growth Rates
Kazakhstan, with its 20 million inhabitants, is the ninth largest country in the world and Germany’s most important economic partner in the region. Thanks to its strategic location between Russia and China, the country has experienced above-average economic growth for years, making it an attractive partner for Germany.
Economic Benefits for Germany
By strengthening ties with Kazakhstan, Germany stands to benefit from:
Diversified Energy Supplies: Kazakhstan is a significant oil producer, and increased supplies will help Germany reduce its dependence on Russian energy.
Increased Trade: Kazakhstan is a major player in Central Asia, and closer economic ties will provide Germany with access to new markets and trade opportunities.
*
