Kazakhstan-XUAR trade hit record $22bln in 2024
In 2024, trade turnover between Kazakhstan and China’s XUAR rose by 20.5% and hit a record $22 billion. This was announced at a meeting between Kazakh Minister of Trade and Integration Arman Shakkaliyev and Chairman of the People’s Government of the Xinjiang Uygur Autonomous Region Erkin Tuniyaz in Urumqi on August 26, Kazinform News Agency reports.
The meeting centered around the key issues of expansion of trade-economic cooperation, investment attraction and interregional interaction development, the press service of the Kazakh Ministry of Trade and Integration said. Last year, trade volume between Kazakhstan and China amounted to $43.8 billion.
XUAR holds a specific place in the Kazakh-Chinese relations, as it shares borders with four regions of Kazakhstan and is turning into one of the main centers of business activity.
“Xinjiang is a special region for Kazakhstan: we are neighbors, we share a long border. I see that under your leadership, XUAR develops, its economy grows and new opportunities arise. This inspires us to move forward. Last year, trade turnover with the XUAR surged to $22 billion,” Minister Shakkaliyev said.
He expressed confidence that both sides can achieve more, “through ramping up trade, expanding its range, adding new goods and implementing new projects.”
The sides agreed to compile a road map on the development of trade-economic cooperation. The goal of the document is to diversify supplies, to develop non-resource exports and to strengthen ties between the regions.
Another important issue on the agenda was the export of agricultural products. In 2024, Kazakhstan’s agricultural exports to China increased by 10.5% reaching $1.44 billion.
Given the growing demand for ecologically clean products, Kazakhstan plans to boost delivery of grain, oil crops and processed products to China, the Minister said.
The sides also discussed interregional cooperation issues. The parties agreed to boost the activity of the Interregional Cooperation Forum and continue holding the Friendly Dialogue of Cross-Border Cooperation.
The sides reaffirmed their commitment to expanding trade and investment partnership.
Arman Shakkaliyev invited business entities of XUAR to actively invest in Kazakhstan’s processing industry, petrochemicals and metallurgy, emphasizing that Kazakhstan is ready to offer modern infrastructure solutions and tax incentives for investors.
Earlier it was reported that XUAR delegation visited Abai region, to get acquainted with the region’s tourism potential and the progress of construction of the third railway line Ayagoz-Tacheng.
