ASTANA – Kazakh and Chinese business leaders inked over 40 agreements worth $3.7 billion on the sidelines of the Kazakh-Chinese Business Council on July 2.
Photo credit: Samruk Kazyna
The event gathered at least 500 business representatives, including over 50 largest Chinese companies, according to Kazinform.
Samruk Kazyna Sovereign Wealth Fund signed 16 agreements with Chinese partners, including ones on the production of wind components, investment in the construction of a container hub in the Aktau seaport, and the development of e-commerce.
Astana Akimat (administration), Bazis-A construction company, and the Shenzhen Energy Environmental Engineering and China State Construction Engineering Corporation agreed to construct a waste incineration plant to generate electricity.
Kazakh and Chinese business leaders also plan to launch the Qostanay Grain Industry plant for deep wheat processing in the Kostanai Region in 2027. The new facility is expected to employ 600 people, generate additional revenue for the state budget, and positively impact increasing food security and export potential. Through deep processing, the plant can process 430,000 tons of wheat annually. It will produce amino acids, bioethanol, gluten, animal feed, and wheat bran there.
China is Kazakhstan’s largest foreign trade partner. In January-March, trade turnover hit $6.3 billion.
In 2023, bilateral trade grew by 30%, reaching $31.5 billion.
