Germany is forging a strategic partnership with Central Asia for the first time - an important step that you as a financial expert need to know!

Germany is forging a strategic partnership with Central Asia for the first time - an important step that you as a financial expert need to know!

According to a report by www.esslinger-zeitung.de, Germany has agreed on a strategic partnership with the five former Soviet republics of Central Asia. This partnership should focus on the economy and energy, climate and environment, regional cooperation and direct exchange between citizens. This agreement was announced after Chancellor Olaf Scholz's first summit with the heads of state of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan in Berlin.

The five Central Asian states have a total population of almost 80 million and their area is eleven times larger than that of Germany. They have important raw materials that are of interest to Germany, including uranium, iron ore, zinc, copper and gold. Kazakhstan is already supplying the refinery in Schwedt, Brandenburg, with oil and is compensating for the cut in Russian deliveries. Germany also plans to deepen existing partnerships in Africa, Latin America and Asia and find new partners to reduce economic dependence on China.

The agreement is aimed at intensifying economic relations, particularly in the area of ​​raw material supplies. These steps could have a long-term positive impact on the German economy by strengthening the security of supply of important raw materials. In addition, the new partnerships in Central Asia could create new sales markets for German goods and services.

However, it should be noted that the human rights violations of some of these states are attracting international criticism and therefore raise ethical and moral concerns regarding cooperation. Companies intending to use the partnerships must also consider the social and ethical implications of these business relationships.