Kazakhstan and China are boosting bilateral cooperation

Kazakhstan and China are boosting bilateral cooperation

Kazakhstan and China are boosting bilateral cooperation. China is one of Kazakhstan’s most important trading partners and holds one of the leading positions in the volume of direct investments in the Kazakh economy. Alignment of the Kazakh state programs and China’s Belt and Road Initiative opened vast opportunities for the mutually beneficial partnership. During the implementation of the Belt and Road Initiative, trade between Kazakhstan and China enhanced significantly. Over the past year, trade between the countries grew by 30 per cent and totalled almost US$11 billion. Experts believe that the value can be even higher. 

NURALY BUKEIKHANOV, SENIOR STAFF, KAZAKHSTAN CHAMBER OF INTERNATIONAL COMMERCE:

 - Chinese entrepreneurs are interested in purchasing agricultural food products produced in Kazakhstan. Our enterprises produce high quality, organic products distinguished by relative price competitiveness.

To strengthen business cooperation between the two countries, Kazakh trade mission to China will be organized in October. Representatives of 25 Kazakh enterprises will visit Xi’an city in Shaanxi province where Kazakhstan’s trading house will open. Kazakh businessmen will have the opportunity to present their products to the Chinese consumers on an area of 5,000 square meters. Chinese businessmen also expressed interest in joint projects.

CHENG SHIBO, CHINESE BUSINESSMAN:

 - We are planning to increase the export of Kazakh products to China because there are many organic products here. It is our main goal. We also want to target Russian-speaking regions. Recently, we started importing flour, oil, candies and sweets from Kazakhstan. In the future, we plan to import meat, particularly lamb.

According to analysts, China opens vast opportunities for Kazakh businesses by expanding the range of products and providing access to its domestic market.