Kazakhstan-China mutual trade amounts to $13.6 billion in first half of 2023
The mutual trade between Kazakhstan and China reached over $13.5 billion in the first half of the year, with more than $6 billion accounting for domestic exports. At the large-scale Kazakh-Chinese business forum in Shenzhen, Kazakh Minister of Trade and Integration Serik Zhumangarin stressed that the countries have great potential for trade growth. Additionally, he outlined three main areas for investment in Kazakhstan, namely logistics, which includes the development of existing and the creation of new routes, infrastructure as well as loading and unloading centers. The sphere is of particular interest to large transport operators. According to Zhumangarin, a network of border logistics centers is currently being created. They will become the basis of the EAEU countries and Central Asia with the prospect of further expansion.
“Kazakhstan has created a network of special economic and industrial zones where investments can be made. However, the most priority sector is transport and trade logistics. Thus, we have set up a network of hubs. The first one is the Khorgos International Center for Border Cooperation on the border with Xinjiang, which you are welcome to visit. The hub also includes a special economic zone ‘Khorgos-Eastern Gate’. Besides, we have established an industrial trade and logistics complex on the border with Kyrgyzstan and an International Center for Industrial Cooperation on the border with Uzbekistan. Now we intend to create a trade and logistics center on the territory of Turkmenistan. Also, Kazakhstan has the hub on the Caspian Sea coast, the port of Kuryk, and the Eurasia cross-border trade center. But this does not limit the activities. It bears noting that to date, our country is the shortest way for China to the European market,” said Zhumangarin.
It should be noted that today Kazakhstan’s investment legislation fully complies with the best international standards. It guarantees capital protection as well as tax and customs preferences. The country’s Ministry of Trade and Integration notes two more promising areas for investment, including deep processing of products and the development of agriculture.