Kazakhstan's Minister of Trade and Integration, Arman Shakkaliyev, took center stage at the eighth Belt and Road Summit in Hong Kong on September 13, as he presented the abundant trade opportunities that Kazakhstan has to offer.
China, identified as Kazakhstan's second-largest trading partner, played a pivotal role in Minister Shakkaliyev's presentation, with him highlighting a remarkable trade turnover of $24.2 bn in 2022. In a promising commitment, Shakkaliyev expressed the nation's aspiration to bolster non-oil exports to China by an additional $1 bn, encompassing a diverse range of 135 commodities.
Furthermore, the minister underscored a substantial 91% surge in trade between Kazakhstan and Hong Kong, culminating in a total trade value of $51.8 mn for the same year. The Kazakh delegation aims to further expand exports to this special administrative region through a multitude of 100 different commodity items, valued at over $600 mn.
Shakkaliyev emphasized the centrality of mutual market openings and the development of efficient supply chains as the bedrock of international trade. Kazakhstan has grand ambitions to establish itself as a pivotal transport hub connecting Europe and Asia, with several key prerequisites in place to facilitate this vision.
One of the crucial elements is the annual escalation of container rail transportation on the China-Europe-China route through Kazakhstan, with the Khorgos – Eastern Gate special economic zone now fully operational along the Chinese border. The minister also stressed the significance of a logistics terminal, a pivotal point for streamlining cargo flows to and from Kazakhstan, which was established in the port of Lianyungang in collaboration with Chinese partners back in 2014.
Highlighting ongoing developments, Shakkaliyev mentioned the construction of the Kazakhstan Temir Zholy National Railway Company's terminal, which commenced operations at the Xi'an dry port in May. Simultaneously, Kazakhstan is investing heavily in the development of high-quality highways that facilitate efficient north-south and east-west transit, extending from the country's central region to its south, east, and west.
"With great investment potential, Kazakhstan is ready to work actively with foreign partners in manufacturing and light industries, new high technologies, green energy, infrastructure, and finance," Minister Shakkaliyev emphasized in his concluding remarks.
The Belt and Road initiative, celebrating its tenth anniversary this year, remains central to China's international strategy. It prioritizes barrier-free trade, investment, and trade-economic cooperation principles. The initiative spans across 150 countries along its route and engages with over 32 international organizations, all with the aim of enhancing existing trade corridors and forging new trade and transport routes on a global scale.
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