Trade between Kazakhstan and China reached a record high, exceeding $24 billion in 2022, Deputy Prime Minister - Minister of Trade and Integration of Kazakhstan Serik Zhumangarin said during an online meeting of the ministers of trade and economy of China and Central Asia.
China is the main trading partner of both Kazakhstan and other Central Asian countries, Zhumangarin noted.
Exports of Kazakh products to China grew by more than a third and amounted to $13.2 billion, while imports of Chinese goods to Kazakhstan increased by 33.5% and are estimated at $11 billion.
According to the Kazakh side, at the end of 2022, the trade turnover between Kazakhstan, China and the countries of Central Asia increased by 31.9% and amounted to $32.1 billion (in 2021 - $24.3 billion).
“The Chinese market is a reliable consumer of our products. We are ready to offer a wide range of industrial and agricultural goods in 135 additional commodity items worth over $1 billion,” the Deputy Prime Minister of Kazakhstan said.
He also stressed the importance of developing e-commerce, increasing the transport connectivity of the region and consistently improving the conditions for export and transit, developing interregional and cross-border cooperation.
Given the competitive position of the Central Asian countries, at the initial stage, Kazakhstan proposes to organize a joint promotion of products, including in the Chinese market.
The meeting was organized at the initiative of the Chinese side. Online meetings will be held on a regular basis, which will help strengthen and promote economic and trade cooperation between the six countries.
CentralasianLIGHT.org
April 20, 2023