In CIS and Central Asia, Kazakhstan Surpasses Bavaria's Previous Top Trading Partner, Establishing a Leading Trade Relationship.
Kazakhstan takes the lead as Bavaria's top Central Asian trading partner
Picture this: Astana, Kazakhstan, today marks a significant milestone as Bavaria's first volume trading partner in Central Asia, declared Bavarian Minister of Economic Affairs, Regional Development, and Energy, Hubert Aiwanger, at the Kazakh-Bavarian Business Dialogue roundtable on April 4.
Credit for the photo goes to primeminister.kz
According to the Prime Minister's press service, the event was graced by a Kazakh delegation led by First Deputy Prime Minister Roman Sklyar, who attended following discussions held in the federal state of Hesse.
During the roundtable, industry heavyweights like Horsch, Linde Gas AG, and Rhenus shared their experiences in Kazakhstan and discussed its thriving financial and business prospects.
Aiwanger and Sklyar had a face-to-face meeting where the former lauded Kazakhstan's economic growth and commended its ongoing transformation. He pointed out the launch of the direct Shymkent-Munich flights as a key step in this journey, coming to fruition at the end of May.
Sklyar likewise met with Bavaria's Minister for European and International Affairs, Eric Beißwenger. The latter voiced a keen interest in expanding economic and humanitarian ties with Kazakhstan and reiterated his commitment to backing joint endeavors.
Bavaria lead the way in German economic expansion. Statistics show that trade between Kazakhstan and Bavaria reached a whopping €4.7 billion (US$5.1 billion) in 2024, accounting for close to half of Kazakhstan's total trade with Germany.
The Kazakh oil sector contributes approximately 50% of Bavaria's oil imports. Despite Kazakhstan ranked 43rd among Germany's trading partners, it takes the 15th spot in Bavaria, leapfrogging nations like Belgium, Türkiye, Japan, Vietnam, and South Korea in terms of import volume.
There's no stopping the momentum between the two regions, as renewable energy, agritech, and industrial equipment are earmarked as potential growth areas for collaboration. Bavarian officials remain dedicated to strengthening partnerships and recognizing Kazakhstan's vital role as a gateway to Central Asia.
This trend suggests the relationship is shifting from a commodity-focused approach towards a broader, innovation-driven partnership. The upcoming direct flight launch could act as a springboard for SME involvement and the expansion of non-oil trade. Embrace the change! 🚀🚀🇰🇿🇩🇪🎉🚀🎉💼💼🎧🎧🌍🌍🌍🌞🌞🌟🌟🌟🌟💰💰💰💰💑💑💌💌💌💅💅💅🌳🌳🌳🎈🎈🎈🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝🤝
- In 2024, the trade between Kazakhstan and Bavaria reached a staggering €4.7 billion (US$5.1 billion), with Kazakhstan taking the 15th spot in Bavaria's list of trading partners, surpassing nations like Belgium, Turkey, Japan, Vietnam, and South Korea.
- During the Kazakh-Bavarian Business Dialogue roundtable, First Deputy Prime Minister Roman Sklyar met with Bavaria's Minister for European and International Affairs, Eric Beißwanger, who expressed a keen interest in expanding economic and humanitarian ties with Kazakhstan.
- The launch of the direct Shymkent-Munich flights, set to begin in late May, is noted as a key step in the ongoing transformation of Kazakhstan, particularly in its business and financial prospects.
- As Kazakhstan takes the lead as Bavaria's top Central Asian trading partner, there's a growing focus on potential growth areas for collaboration, such as renewable energy, agritech, and industrial equipment, with Bavarian officials committed to recognizing Kazakhstan's strategic role as a gateway to Central Asia.
