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Bakytzhan Sagintayev meets with the Ambassador of China to Kazakhstan, Zhang Xiao

by October 22, 2018 Politics

Today in Ukimet Uyi, the Prime Minister of the Republic of Kazakhstan Bakytzhan Sagintayev held a meeting with the Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to the Republic of Kazakhstan Mr. Zhang Xiao.

The discussion covered issues of further development of trade and economic cooperation between countries in industry, engineering, transport and agriculture, as well as the implementation of current and new joint investment projects in various areas of the economy and in the high-tech sector.

Other topics were also discussed, such as interaction within the framework of interlinking the NEP Nurly Zhol and the Belt and Road strategy, which has become a new driver for the development of relations between Kazakhstan and China.

Diplomatic relations between China and Kazakhstan were established on January 3, 1992. In 2017, China became the largest foreign trade partner of Kazakhstan. The share of China in the total volume of commodity turnover of Kazakhstan with other countries was 17.4% (exports – 13.4%, imports – 27.5%). In January-August of the current year, the trade turnover between Kazakhstan and China amounted to $ 7,251.2 million, which is 11.3% more than during the same period last year. Exports rose by 5.9% to $ 3,753.7 million. Imports amounted to $ 3,498.2 million.

Among the main exports: agricultural products – $ 157 million (share in exports of 5%), an increase of 48.4% ($ 51.2 million), copper and cathodes of copper – $ 862.4 million (share in exports of 23%), growth by 27.1% ($ 183.7 million), natural gas – $ 635.7 million (16.9%), a seven-fold increase ($ 544.2 million), ferroalloys – $ 511 million (13.6% share ), copper ores and concentrates – $ 491.2 million (13.1%) and crude oil $ 414.7 million (share 11%).

Source: Government of the Republic of Kazakhstan