In 2022, Kazakhstan emerged as a significant player in the Central Asian region’s trade with China, contributing to 45% of the total trade volume of $70 bn. This was announced by Kazakhstan’s Prime Minister, Alikhan Smailov, at the 6th China International Import Exhibition (IIM) in Shanghai.
Smailov expressed optimism about the growth potential, stating that the conditions are in place to increase the trade turnover to $100 bn by 2030. He also highlighted that over the past decade, China’s total trade turnover with countries along the “One Belt, One Road” reached $19.5 tn, with a total investment volume of $380 bn.
The Prime Minister emphasized the need for collective efforts to achieve sustainable economic development. He acknowledged the global economic challenges faced by Kazakhstan and other countries, including trade barriers, disruptions in production chains, and financial instability. However, he affirmed Kazakhstan’s readiness to collaborate with partners in developing practical mechanisms for strengthening economic cooperation to mitigate the impact of future global threats.
This announcement underscores Kazakhstan’s growing economic influence in the region and its commitment to fostering robust trade relations with China, despite the global economic challenges.
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