Kazakh PM and German Bundesrat president discuss Kazakh oil supplies to GermanyKazakhstan’s Prime Minister Olzhas Bektenov and German Bundesrat President Anke Rehlinger discussed prospects for trade and economic cooperation, the press service of the Kazakh government said in a Wednesday press release.During the talks, the sides also discussed an opportunity of increasing Kazakh oil supplies to Germany."The energy sector plays a key role in the economic relations between Kazakhstan and Germany. Kazakhstan is the third-largest supplier of oil to Germany. Last year, Germany imported 10.6 million tonnes of Kazakh oil," the press release says.Bektenov emphasized that priority areas of bilateral cooperation include metal processing, oil and gas, coal chemistry, mechanical engineering, uranium conversion and enrichment, the production of automotive components and fertilizers.The prime minister said that Kazakhstan can offer German businesses all necessary benefits, such as diversified energy sources, transit and transport potential and significant natural resources.According to the press service, Kazakhstan accounts for 81% of Germany’s total trade with Central Asia. Trade turnover between the two countries grew by 5.9% in 2024, reaching around $4 billion. Meanwhile, Kazakhstan’s exports surged by 56.8%, totaling $1.2 billion.Since 2005, Germany has invested approximately $7.2 billion worth of direct investment into Kazakhstan’s economy. More than 90% of these funds went to non-resource sectors, including manufacturing, chemical production, construction materials, transportation and agriculture.The joint investment portfolio of Kazakhstan and Germany includes 65 projects worth over $54.4 billion. Around 1,100 companies with German capital operate in Kazakhstan, and 32 projects worth more than $1.1 billion have been successfully completed. (ICE ALMATY)

Fonte notizia: INTERFAX