ASTANA – Kazakhstan signed eight commercial agreements worth $2.5 billion with Chinese companies during Kazakh Prime Minister Olzhas Bektenov’s working visit to Shanghai on Nov. 4, reported the Prime Minister’s press service.
Kazakh PM Olzhas Bektenov (M) took part in the Kazakh-Chinese investment roundtable and met with representatives of leading Chinese companies. Photo credit: primeminister.kz
Bektenov took part in the Kazakh-Chinese investment roundtable and met with representatives of leading Chinese companies in metallurgy, energy, machinery, automotive, carbon chemistry, agribusiness, and pharmaceuticals.
The primary purpose of the visit was to implement the agreements reached between the President of Kazakhstan Kassym-Jomart Tokayev and President of China Xi Jinping to double the volume of bilateral trade turnover from last year’s historical record of $41 billion.
“Kazakhstan and China have a huge potential for realizing joint investment projects. Together, we can open new horizons for interaction and increase the effectiveness of cooperation. To this end, we should actively work to expand transit opportunities, strengthen industrial cooperation and build ties between our business communities. We will support investors, creating favorable conditions for business and contributing to the success of each project,” he added.
Executives from major Chinese companies announced plans to deepen cooperation with Kazakhstan across various sectors.
China Huadian Corporation aims to expand collaboration in the energy sector and reduce emissions. CHN Energy Investment will launch Kazakhstan’s first coal-chemical compleх, and Beijing Jianlong Heavy Industry and Zijin Mining Group plan joint ventures in steel and rare earth mining. CP Pharmaceutical Group will invest in a medical cluster, Beiqi Foton Motor will localize automotive production, and Sinotruk International intends to establish truck manufacturing in Kazakhstan.
Today, around 5,000 joint ventures are operating in Kazakhstan.
Key joint projects between Kazakhstan and China include a soda ash plant with Camc Engineering, the Sastobe chemical complex with Tianjin Cement Industry Design and Research Institute, and an explosives plant with Yunnan Industrial Explosive Group. Nearing completion is the Changan, Haval, Chery auto production plant, which will have a capacity of 90,000 units based on small-unit assembly.
An investment agreement for producing Geely, Exeed, and Kaiyi passenger cars, valued at $150 million and expected to create 1,000 jobs, has also been signed. According to business leaders from both countries, these projects pave the way for advanced technological enterprises capable of producing high-quality domestic products, underscoring the strength and productivity of the bilateral partnership.
