Kazakhstan and China signed 47 agreements worth $ 22 billion following the Kazakhstan- China investment roundtable with Chinese officials and business leaders on May 18 in Xian, where President Kassym-Jomart Tokayev highlighted key investment areas, reported the Akorda press service.
“Considering that China is the largest producer of electric vehicles, cooperation in lithium mining is promising,” said Tokayev. E-commerce also offers good opportunities to grow mutual trade. Given the Central Asian countries’ competitive position, Tokayev suggested expanding the usage of China’s major marketplaces, which is critical for cooperative product marketing to global markets.
“Kazakhstan intends to create new customs warehouses. In this regard, Kazakhstan offers all partners to place their goods in local warehouses for logistical convenience. This will significantly reduce the time of delivery of goods to consumers from Central Asian countries to China and back,” the President noted.
The agriculture sector is another attractive area for cooperation, according to Tokayev. Recently, the sides agreed to supply one million tons of wheat to China. However, the volume can be increased, he said.
Over the past five years, the export of oilseeds from Kazakhstan to China has grown by 3.5 times, while export of vegetable oil has doubled. Tokayev announced plans to fully supply the Kazakh market with domestic sugar and invited Chinese companies to participate in the development of the sugar industry.
Tokayev also spoke about the importance of developing land transport corridors, highlighting the possibility for Chinese goods to enter the large markets of Western Eurasia through the territory of Kazakhstan.
“Kazakhstan attaches great importance to constructing a Kazakhstan logistics center in the Xian dry port, which will become the main hub for sending direct container trains to Central Asia, Europe, Türkiye, and Iran,” Tokayev said.
According to Tokayev, Kazakhstan plans to launch the Ayagoz-Bakhty railway link in the direction of China and repair the Dostyk-Moiynty railroad section, which will make it possible to annually transport up to 20 million tons of cargo in this direction.
The President said developing the Trans-Caspian International Transport Route is essential for enhancing transit between Europe and Asia, as this is the shortest route from China to Europe. Its length is 2,500 kilometers shorter than the Northern Corridor Transport Network.
Tokayev invited Chinese business executives to expand financial sector cooperation through opportunities offered by the Astana International Financial Center, which has over 1,800 companies from 73 countries, with one-tenth from China. China International Capital Corporation plans to open its regional branch in Kazakhstan.
The investment roundtable was attended by CITIC Group Chairman Zhu Hexin, CNPC Chairman Dai Houliang, Vice President of Asian Infrastructure Investment Bank Ludger Schuknecht, and Chairman of China General Technology Holding (Genertec) Yu Xubo, among other business leaders.
The Embassy of the Republic of Kazakhstan in the Kingdom of Sweden and in the Kingdom of Denmark was opened on March 8, 2014 by direct decree of the President of the Republic of Kazakhstan with a view to strengthening diplomatic relations. The site is introduced to keep the wide public informed on activity of the diplomatic mission in Sweden, and to provide information support for the citizens of Kazakhstan who live in Sweden and foreigners who are going to visit Kazakhstan as tourists or businessmen.