Olzhas Bektenov: Kazakhstan-China trade-economic cooperation is on rise
Prime Minister Olzhas Bektenov and Ambassador Extraordinary and Plenipotentiary of China to Kazakhstan Zhang Xiao met today in Astana for discussing the course of implementation of the agreements reached at the level of the two countries’ presidents, Kazinform News Agency reports citing the press service of the Kazakh Government.
The meeting also discussed the issues of further development of trade-economic, investment, transit and transport cooperation, as well as cultural and interregional interaction. The sides also focused on the issues of strengthening the partnership in education, science and transfer of technologies.
In 2023, bilateral trade turnover between Kazakhstan and China increased by 30% and reached $31.5 billion. From January to September 2023, China invested $1.4 billion in Kazakhstan’s economy. Currently, the two countries are implementing 45 joint projects with the investments exceeding $14.5 billion. In January-February 2024, container transportations rose by 2.6 times.
The parties discussed the measures of elimination of the barriers in mutual trade, lifting administrative obstacles and simplification of customs procedures. In particular, the Kazakh side expressed readiness to supply home-produced highly-processed agricultural products to the Chinese market.
Alongside, the sides discussed the measures implemented in transit and transport sector, namely construction of Bakhty-Tacheng checkpoint, and expanding the potential of the Trans-Caspian International Transport Route and regional integration development.
Another issue on the agenda was increasing the number of passenger flights.
According to the Kazakh Prime Minister, trade and economic partnership between Kazakhstan and China is on the rise.
“Kazakh-Chinese joint projects allow to set up high-technological enterprises for manufacturing high-quality and in-demand products. 3,000 joint companies are successfully operating in the territory of Kazakhstan today, which proves sustainability and productivity of the partnership between the two countries’ business communities,” said Olzhas Bektenov.
In turn, Chinese Ambassador confirmed high dynamics of the two countries’ strategic partnership development.
In his words, the visits of Kazakh President Kassym-Jomart Tokayev to China gave the strongest impetus to the deepening and development of the Kazakh-Chinese bilateral relations. He said that Chinese side highly appreciated the program of large-scale economic transformations initiated by the President of Kazakhstan. He said that the ambitious task to double Kazakhstan’s GDP by 2029 is quite achievable.
Zhang Xiao also outlined a broad potential for cooperation in agriculture, energy, high technologies and other spheres.
At the end of the meeting, Olzhas Bektenov and Zhang Xiao confirmed their readiness to ensure progressive development of Kazakhstan-China trade-economic cooperation.
