Kazakhstan looking to leverage the New Silk Road and ADB's potential to grow

Idrissov writes that the entire continent is growing rapidly. Asia now produces up to 30% of the world's GDP-and will produce close to 50% of the world's GDP by 2050. Kazakhstan, which did not even exist as an independent country when the ADB was formed, is now on track to be the 50th biggest global economy. Yet, Asia faces several challenges: inequality, widespread poverty and conflicts in places like Afghanistan. Closer to home, Kazakhstan has to work hard to diversify its economy away from limited natural resources and towards a more sustainable path. To ensure that all countries and sections of the society share equally in Asia's growth, Idrissov argues for more economic integration, better trade access and better regional infrastructure. "This is why ADB's focus this year to improve physical links- including transport and infrastructure is so important," he writes. Kazakhstan has the "goal of joining the world's top 30 economies - the core objective of our Kazakhstan 2050 development strategy," and "the ADB will be critical in realising this bold ambition" At the heart of this growth, according to Idrissov, is the New Silk Road. According to China's President Xi Jinping, the New Silk Road is an "economic belt from the Pacific Ocean to the Baltic Sea, representing a market of unparalleled size and potential."Kazakhstan is already collaborating with China on energy and transport projects along the New Silk Road. "New mega-projects, such as the Western China - Western Europe highway, which goes through Kazakhstan, will cut 45 days off delivery times between China and Europe," writes Idrissov. Chinese-Kazakh trade has been growing stronger and with projects along the New Silk Road, trade will likely reach US$40 billion by 2015, The Straits Times reports.