Kazakhstan's trade turnover with China has risen by 9%, reaching $43.8bn by the end of 2024. Both sides are committed to further strengthening this relationship, aiming to double the volume of bilateral trade in line with the goals set by the two heads of state.
In this context, Kazakhstan aims to diversify its exports, notably by increasing the shipment of Kazakh grain to China. Plans include improving the acceptance of grain cargo and expanding the list of Kazakh companies registered as exporters to China.
Prime Minister Olzhas Bektenov recently held a meeting with Ambassador Extraordinary and Plenipotentiary of the People's Republic of China to Kazakhstan, Han Chunlin, marking the start of Han’s diplomatic mission in Kazakhstan. The meeting addressed various areas of cooperation, including investment, agro-industrial complex, transport, logistics, energy, and tourism.
Bektenov highlighted the strong foundation of Kazakhstan-China economic relations, which have been bolstered by the close collaboration between Presidents Kassym-Jomart Tokayev of Kazakhstan and Xi Jinping of China.
Discussions also covered the progress of joint investment projects. China ranks among Kazakhstan’s top five investors, with 62 projects worth $8.7bn already completed, generating 11,000 jobs. Another 55 projects, valued at $13.5bn, are currently underway, with the potential to create 17,400 additional jobs. The total pool of investment projects exceeds $60.5bn.
Furthermore, both sides underscored the importance of expanding transport and logistics cooperation. NC KTZ reported a 13% increase in cargo transport between Kazakhstan and China in 2024, totaling 29.3mn tons. To further boost trade, both parties agreed on the need for new and upgraded checkpoints along the Kazakhstan-China border, as well as enhanced border shipping services.
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