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Thursday, October 17th, 2019

KAZAKHSTAN AND CHINA DEVELOP MUTUAL TRADE

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Minister of Trade and Integration of the Republic of Kazakhstan

Bakhyt Sultanov and Minister of Commerce of China Zhong Shan signed a Memorandum of Understanding between the Ministry of Trade and Industry of the Republic of Kazakhstan and the Ministry of Commerce of China on the state visit of the President of the Republic of Kazakhstan Kassym-Jomart Tokayev from September 10 to 12,

This document is aimed at developing bilateral cooperation in the areas of domestic and foreign trade, export of goods and services, training and co-operation between business circles of Kazakhstan and China.

China is traditionally one of the key foreign trade partners for Kazakhstan. Last year the trade turnover with China amounted to 12.3% of the total trade turnover of Kazakhstan. By the end of 2018, mutual trade increased by 11.4% and amounted to $ 11.7 billion. .

This year, we see that the mutual trade between the two countries is rapidly growing. In the first seven months of 2019 the trade turnover reached 8 bln. , Which is 31.2% higher than the same period last year.

An agreement was reached to continue joint work on expanding the nomenclature of goods and services provided and the establishment of direct contacts between business circles for further development of trade and economic cooperation and maintaining high positive dynamics.

The Kazakh side exported Kazakhstan’s products to China in mutual trade with a value of about US $ 1.6 billion. United States dollars by increasing the positive trend.

Source: Kazakhtan 2050

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