Vietnam suggested producing electric vehicle batteries in Kazakhstan

Vietnam is one of Kazakhstan’s key partners in Asia. The commodity turnover between the two states grew by 85% to reach nearly 1 billion US dollars following the visit of the Kazakh President to Vietnam last August. 13 flights are operated currently to connect Kazakhstan and Vietnam, Zhumangarin said.

He also suggested Vietnam companies study opportunities of the Trans-Caspian International Transport Route which will let Vietnam export its goods 3-4 times faster from the east to the west as compared to sea shipping and reduce transportation costs as well as employ capacities of Kazakhstan-Chinese terminal in Lianyungang and a dry port in Xi’an.

The parties also debated prospects for cooperation in rare-earth metals production and processing. The Deputy Prime Minister offered Vietnam to focus on Kazakhstan’s large lithium reserves for the production of lithium-ion batteries for electric vehicles to promote the country’s high-tech sector growth and let Vietnamese car manufacturers preserve their competitive positions.

Last year the commodity turnover between Kazakhstan and Vietnam made 979.2 million US dollars that is 85.4% more as compared to 2022 (528.3 million US dollars). Exports reached 180.2 million US dollars, imports hit 799 million US dollars.