Kazakhstan and Germany have signed 23 agreements worth $1.7 billion following the bilateral business forum in Astana. In particular, the parties agreed on the exploration, extraction and processing of rare earth metals in the East Kazakhstan region. The project valuation is pegged at $200 million. In addition, Kazakh and German enterprises will build a multifunctional innovative industrial park, and develop cooperation in the production of machine tools and agricultural machinery, transport and logistics sector, textiles, fisheries, and green energy. Test drilling has been launched at a green hydrogen plant under construction in the Mangystau region. The Development Bank of Kazakhstan has also established a partnership with German partners. Financing of investment projects of export credit agencies will start in cooperation with one of the German financial institutions.
