China and Central Asia trade increased by 100 times

16:29, 28 May 2013

BEIJING. May 28. KAZINFORM - For twenty years trade turnover between China and the five Central Asian countries has grown by 100 times. In 1992 bilateral trade turnover between the countries amounted to USD 460 million (dollars) and by the end of 2012 it reached almost USD 46 billion, this has been announced today by Jiang Yaoping, Vice Minister of Commerce of China, at the Beijing regular press conference of the China's State Council.

According to Jiang Yaoping the statistical data shows that China is the largest trading partner of Kazakhstan and Turkmenistan, the second trade partner of Uzbekistan and Kyrgyzstan and the third for Tajikistan.

"In recent years trade between China and the countries of Eurasia has been rapidly growing. Organization and carrying out the III EXPO "China-Eurasia" is a new platform for mutual cooperation between Chinese and Eurasian enterprises ", said the Chinese Deputy Minister of Commerce.

Moreover, Jiang Yaoping added that by the end of last year the trade turnover between China and Russia reached USD 88.2 billion, thus China is also the largest trading partner for Russian Federation.

"Trade relations between China and Eurasia are an important part of our foreign trade", said Jiang Yaoping.

According to him Xinjiang is creating a new model of external openness. Xinjiang Uyghur Autonomous Region borders with eight countries which are located along the border check point 17 of the first category and the check point 12 of the second category. In the first four months of 2013 the volume of foreign trade of Xinjiang city totaled USD 7.24 billion, therefore the city ranks first among the five northwestern provinces of China.

"After the financial crisis of 2008 we are making efforts to diversify our economy moving away from the traditional business. With regard to cross-border trade we are also changing the approaches in the trade structure of Xinjiang. Xinjiang Uyghur Autonomous Region is increasing involvement in the international division of labor. In this regard we will strengthen the customs checkpoints in Xinjiang and develop their infrastructure ", concluded Jiang Yaoping.

It bears to remind that in September 2013 Urumqi city of the Xinjiang Uyghur Autonomous Region will host III exhibition EXPO "China-Eurasia."

Diplomacy Kazakhstan and China Central Asia Economy