In a move towards enhancing trade and economic ties between Kazakhstan and China, a memorandum of cooperation has been inked between Kazakh export promotion operator QazTrade and an international conglomerate Jiangsu SOHO Holdings Group, the Ministry of Trade and Integration reported. This collaboration aims to foster deeper economic integration and regionalization between the two nations.
The memorandum outlines plans for Jiangsu SOHO to establish a trading house in Nanjing, Jiangsu Province, dedicated to showcasing and selling popular Kazakh products in the Chinese market. The trading house will also serve as a platform for expanding the range of goods from Central Asian countries, providing both offline and electronic purchasing options.
Scheduled to commence operations on March 30 in Nanjing, the trading house is poised to become a pivotal hub for trade, investment, and financial services, facilitating seamless exchange between China and Kazakhstan. Zhenis Oserbay, the General Director of QazTrade, emphasized that the center will not only bolster bilateral trade but also lay the groundwork for broader economic cooperation across Central Asia.
In a reciprocal gesture, Jiangsu SOHO plans to establish a similar center in Astana, Kazakhstan's capital, facilitating trade and economic collaboration between Kazakh businesses and Jiangsu Province. Moreover, the company aims to bolster trade infrastructure along the China-Europe route and develop a robust logistics network to optimize trade flows between the two countries.
Jiangsu SOHO Holdings Group, a prominent state-owned enterprise in China, boasts a vast portfolio of over 380 enterprises, generating an annual revenue exceeding $100bn. With a focus on comprehensive domestic and foreign trade development, the company has forged economic partnerships with over 160 countries and regions worldwide.
Jiangsu SOHO's subsidiary, Jiangsu Railway Company, oversees the operation of the Jiangsu Central Europe (Asia) Railway, spanning 26 countries across Europe and Asia. This extensive railway network underscores the company's commitment to facilitating international trade and connectivity.
The establishment of the multifunctional trading center promises mutual benefits for all stakeholders involved, offering a strategic platform for promoting goods in the lucrative Chinese market.
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