Kazakhstan, China Ink New Agreements Worth $629 Million to Boost Partnership

ASTANA—Kazakh and Chinese business leaders signed 17 cooperation documents worth $629 million on June 26 at the third interregional forum in Urumqi.

A new direction of investment cooperation between Kazakhstan and China with the assistance of Xinjiang was proposed by the secretary of the XUAR Party Committee Ma Xingjui to Deputy Prime Minister Serik Zhumangarin at a bilateral meeting in Urumqi on June 25. Photo credit: Prime Minister’s press service

The Prime Minister’s press service reported that the largest of these agreements includes contracts for the construction and modernization of 10 substations and power lines, the construction of a plant to produce electrical equipment, and the supply of sunflower oil and camel milk powder.

Kazakh Deputy Prime Minister Serik Zhumangarin led Kazakhstan’s delegation, which included representatives of 17 regions, large companies and businesses.

During his speech, Zhumangarin noted that China ranks fourth in terms of investment in Kazakhstan.

“All conditions have been created between Kazakhstan and China for intensive interaction. There are great opportunities for new investment partnerships,” said Zhumangarin.

During the event, the sides discussed trade, economic, transport, investment, cultural and humanitarian cooperation between the regions of Kazakhstan and China.

China-Eurasia international exhibition

On the same day, the Kazakh delegation participated in the opening of the eighth China-Eurasia EXPO international exhibition in Urumqi. Kazakhstan’s pavilion presented the goods of 42 domestic companies.

Kazakhstan’s pavilion presented in the opening of the eighth China-Eurasia EXPO international exhibition. Photo credit: Prime Minister’s press service

Zhumangarin emphasized that the new page of the “golden 30th anniversary” of relations between China and Kazakhstan sets new ambitious goals. One of them is to bring mutual trade turnover to $100 billion.

The exhibition, attended by 1,900 companies and organizations from 50 countries, will run through June 30. 

Сooperation with Hong Kong and Macau promoted

On June 25, Zhumangarin met with the Secretary of the Xinjiang Uygur Autonomous Region (XUAR) Communist Party Ma Xingrui to discuss the possibilities of expanding cooperation in tourism, development of railways, construction of new border crossings, and increasing the volume of supplies of agricultural products. 

According to Ma, mutual visits over the past two years reflect close cooperation and positive dynamics of bilateral relations in all directions.

Photo credit: Prime Minister’s press service

“We suggest considering cooperation with large enterprises from Hong Kong and Macau that are ready to invest in Kazakhstan. These large companies are transforming their activities and are showing tremendous interest in cooperating with Kazakhstan. We could also help develop tourism. Many tourists from Hong Kong come to XUAR. They like our places and I am sure they will like the nature of Kazakhstan,” said Ma.

Zhumangarin said that Kazakhstan is ready to increase beef exports to 500,000 tons. 

Talks with major Chinese companies 

Zhumangarin also met with the leaders of large Chinese companies that are launching their projects in Kazakhstan and searching for Kazakh partners.

Zhumangarin met with the leaders of large Chinese companies that are launching their projects in Kazakhstan and searching for Kazakh partners. Photo credit: Prime Minister’s press service

CITIC Construction and its partners plan to build a plant for advanced grain processing in the Almaty Region.

Xinjiang Tianye Water Saving Irrigation System Co Ltd provides around 70% of the XUAR area with water-saving technologies. The company is ready to share drip irrigation technologies with Kazakhstan, owing to which it is possible to use less fertilizers and water and get more crops.

Zhumangarin also met with representatives of Debont Agricultural Machinery, which produces agricultural machinery, China National Chemical Engineering Corporation (CNCEC) and Bao Sheng International Trade Co., which specializes in processing construction and household waste.

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