Olaf Scholz Seeks Enhanced Economic Partnership with Kazakhstan

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

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.

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-⁣ 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.

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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

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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.

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