Several business agreements were forged during the bilateral negotiations at the second forum of exporters in Astana, resulting in Kazakhstan and China securing deals totaling $164.5mn for the supply of various goods, the Ministry of Trade and Integration of Kazakhstan reported.
The second forum of exporters has seen strides in trade and economic cooperation between Kazakhstan and China. Under the auspices of QazTrade and the Ministry of Trade and Integration of Kazakhstan, the conference focused on bolstering ties between the two nations.
Representatives from the business circles of Sichuan and Hubei provinces, along with approximately 200 businessmen, industry association heads, and officials from both Kazakhstan and China attended the event.
Zhenis Oserbay, the General Director of QazTrade, emphasized the substantial potential of Kazakhstani producers during the panel session on export issues. Oserbay highlighted the increasing interest of Chinese markets in Kazakhstani goods, particularly in agricultural products, noting the expanding demand each year from various provinces of China.
Minister of Trade and Integration of Kazakhstan, Arman Shakkaliev, highlighted the collaborative efforts between the two nations, which propelled China to become Kazakhstan's leading trading partner in the previous year. The bilateral turnover surged to a record $31.5bn by the end of 2023.
"Interaction with China, one of the largest investors and leading world economies, is a long-term factor for sustainable progress and the implementation of trade and investment potential for Kazakhstan," Shakkaliev emphasized the importance of long-term cooperation with China.
Furthermore, he outlined the recent expansion of the list of agricultural products that Kazakhstan can freely export to the Chinese market, indicating an opportunity for Kazakhstani enterprises to increase exports to China by $1bn across 135 commodity items.
The cooperation between Kazakhstan and China is structured on the principle of regionalization, with a focus on provinces like Sichuan. Shakkaliev disclosed that trade between Kazakhstan and Sichuan province alone amounts to nearly $230mn, with Kazakhstan exports reaching $45mn. He highlighted the successful trading mission in Chengdu, which showcased the vast demand of the Chinese market and the export capabilities of Kazakhstani goods.
In addition, memorandums of cooperation were exchanged between QazTrade and the Chinese Council for the assistance of international trade (Sichuan Council), as well as the Hubei Enterprise International Cooperation of China, further solidifying the bilateral ties.
Follow Daryo's official Instagram and Twitter pages to keep current on world news.
Comments (0)