ASTANA – Kazakhstan has accepted an offer from China to create joint ventures to increase agricultural exports to Southeast Asian countries.
“All the markets are opening today, especially the large Chinese market. The Chinese Government proposed to ship our products through China to Southeast Asia by creating joint ventures with Chinese partners. We hope to use this opportunity,” said Kazakh Prime Minister Bakytzhan Sagintayev at the recent Atameken National Chamber of Entrepreneurs’ meeting..
He said Kazakh exports not required for China could be shipped to Southeast Asia.
The prime minister also said Kazakhstan’s ability to increase exports is a result of national investment in agriculture.
“A lot of work is done in agriculture sector including the update of the agro-industrial complex programme. One hundred billion tenge (US$270.47 million) will be added annually to the funds that are available in the programme. Also, within given 600 billion tenge (US$1.62 billion), 100 billion tenge (US$270.47 million) net will be allocated to the agro-industrial complex and 200 billion tenge (US$540.95 million) for processing. Thus, we witness the support provided,” said the prime minister.
China is a key Kazakh trading partner. Last year, trade grew 11.1 percent to $8.2 billion. Exports from Kazakhstan to China increased 5.9 percent to $4.2 billion.
Currently, Kazakhstan and China are implementing 51 joint projects worth $27 billion in industry, transport and logistics. China, in cooperation with other financial institutions, has also provided more than $50 billion for construction in Kazakhstan.
China has invested $43 billion in total in Kazakhstan, making China the fourth largest foreign investor in Kazakhstan.
China and Kazakhstan are also among the countries cooperating economically, politically and culturally to revive the Silk Road.