ASTANA – Trade turnover between Central Asian countries and China grew by 31.9 percent over the year and exceeded $32 billion in 2022. This was announced by Kazakh Deputy Prime Minister and Minister of Trade and Integration Serik Zhumangarin during an April 18 online meeting to address the upcoming China+Central Asia (C+C5) Summit in the Chinese city of Xi’an in May, which will be held for the first time, reported the ministry’s press service.
Trade and Economy Ministers of China, the Kyrgyz Republic, Tajikistan, Turkmenistan and Uzbekistan attended the meeting.
According to Zhumangarin, trade between Kazakhstan and China reached a record high, exceeding $24 billion last year. Export of Kazakh products to China soared by more than a third and reached $13.2 billion. Similarly, the demand for Chinese goods in Kazakhstan is growing with imports increasing by 33.5 percent to $11 billion.
“Kazakhstan is ready to offer a wide range of industrial and agricultural products worth over $1 billion,” he said.
Zhumangarin focused on the importance of developing e-commerce, enhancing the region’s transport connectivity, improving the conditions for export and transit and accelerating interregional and cross-border cooperation.
Given the competitive position of the Central Asian countries, Kazakhstan proposed to organize a joint promotion of products, including in the Chinese market and invited investors to industrial cooperation.
Following the meeting, the parties agreed to sign documents on strengthening trade and economic cooperation, and interaction in digital trade, infrastructure and engineering construction.