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Commerzbank has published the report “Insights – Central Asia and Mongolia”

The significance of the Central Asian republics and Mongolia will increase further, even if the boom seen in past years is probably over for the time being. This is the conclusion reached in a recent publication by Commerzbank.


"As a result of the proximity to China and Russia, the vast amount of catching-up vis-à-vis the industrialised nations, high foreign investment, and the long period of excellent global economic development, Central Asia and Mongolia have been able to rapidly industrialise and post high growth figures since the start of the new millen¬nium,” explained Rainer Schäfer, Head of Country Risk Analysis at Commerzbank. “In the majority of these countries, raw materials continue to dominate foreign trade and foreign exchange inflow. The reserves of natural gas, gold, and copper, as well as the production of cotton, are of global significance; yet develop¬ment in this area is not over by far, despite significant infrastructure investment taking place. Greater diversification with a simultaneous reduction in the high degree of government regulation is necessary so as to secure long-term prosperity in the Central Asian region.”

"We assume that in the future economic growth in the region will be considerably higher than the global average, and that, as a result, business relations with Germany will be further intensified,” said Axel N. Bommersheim, Regional Head at Commerzbank - Financial Institutions. Commerzbank already accounts for a substantial portion of the pro¬cessing and financing of foreign trade dealings with Central Asia and Mongolia. The Bank has been present in the region for many years with its own representative offices in Kazakhstan, Turkmenistan, and Uzbekistan, which also serve the neighbouring countries of Kyrgyzstan, Tajikistan, and Mongolia. It has a network of 5,000 correspondent banks worldwide and maintains close relationships with a number of international financial institutions such as the European Bank for Reconstruction and Development (ERBD), the World Bank subsidiary International Finance Corporation (IFC), and the Asian Development Bank (ADB).

You will find the publications in German and English in the right box.

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Full versions in English and German

Insights: Central Asia and Mongolia (in English) (PDF, 1.5 MB)

Insights: Zentralasien und Mongolei (in German) (PDF, 799 kB)

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