Cooperation with China is of key importance for Kazakhstan - Nazarbayev

"This visit is of great importance for us, as we are entering the second phase of our collaboration with the People's Republic of China. The entire world is experiencing financial crisis now and the opportunities of the world's financial institutions cannot provide enough funding. China is a big support for us at this tough economic time," the Head of State said. "We are suffering now from decline in our export prices, in particular for oil. Today the oil price makes USD 53 per barrel, but it is unstable. This significantly reduced our budget income. The sanctions between Russia and Europe influenced our economy indirectly too. For this reason, we took measures on tenge rate. I think, our people accepted this news in the right spirit and understood us," the President noted. According to N.Nazarbayev, 25 projects (out of 45 ones) amounting to USD 23 bln will be signed following his visit to China. "Among them are a metallurgical plant in Kostanay region, oil and gas manufacturing plant in Mangyustau region, and a car manufacturing plants in Kostanay and East Kazakhstan regions," N. Nazarbayev noted. He also said that the agricultural producers of Kazakhstan face glyphosate deficit now. "To help them, we decided to build a chemical fertilizers plant in South Kazakhstan," the President emphasized. As earlier reported, in the course of his official trip to china, Nursultan Nazarbayev met with Chairman of the People's Republic of China Xi Jinping. 12 bilateral documents were signed and meetings with the heads CNPC, CITIC Group and Qinghua were held.

The visit will last till September 3. Today the Head of State is expected to meet with Premier of the State Council of China Li Keqiang.

On Thursday N.Nazarbayev will take part in the military parade dedicated to the 70th anniversary of victory of the Chinese People's War of Resistance Against Japanese Aggression.