Kazakhstan and China signed a series of economic agreements totaling $2.5 billion during an investment forum, Sputnik Kazakhstan reports.
The main goal of the forum was to fulfill previously reached agreements between Kazakhstan’s President Kassym-Jomart Tokayev and China’s Chairman Xi Jinping to double trade between the two countries. The forum was attended by Kazakhstan’s Prime Minister Olzhas Bektenov and high-ranking representatives from the Chinese government and business circles.
Kazakhstan’s Ministry of National Economy and China’s state investment fund, Silk Road Fund Co., signed a memorandum of understanding aimed at strengthening investment cooperation. Several agreements were signed during the event.
As part of the development of Kazakhstan’s industrial infrastructure, agreements were reached to build a cast iron pipe manufacturing plant, a project to modernize coke chemical production, and a project to produce mineral insulation made from blast furnace slag. The parties also signed an agreement to procure equipment for Kazakhstan's coal industry.
Among the initiatives to increase trade turnover are the launch of production facilities in the field of freight and special transport. Also on the agenda are joint projects with China to build a soda ash plant, a chemical complex, and an explosives production facility.
CentralasianLIGHT.org
November 5, 2024