Investment portfolio between Kazakhstan, China exceeds $60B

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Trade turnover between Kazakhstan and China approached $44 billion in 2024, Report informs.

Kazakhstan's Prime Minister Oljas Bektenov met with China's new ambassador to Astana Han Chunling today.

The parties discussed expanding mutual relations in trade-economic cooperation, investment, the agro-industrial complex, transport and logistics, energy, cultural-humanitarian activities, and tourism. They noted that bilateral trade turnover increased by 9% to $43.8 billion by the end of 2024.

They also reviewed the implementation of joint investment projects.

China is among Kazakhstan's top five investors. To date, 62 projects worth $8.7 billion have been implemented between Kazakhstan and China, creating 11,000 jobs. Additionally, 55 projects worth $13.5 billion are being implemented and expected to create 17,400 jobs. Overall, the total portfolio covers 222 investment projects worth more than $60.5 billion.

During the meeting, the sides also discussed strengthening cooperation in the transit-transport sector. During the first 11 months of 2024, the volume of cargo transportation between Kazakhstan and China grew by 13% compared to the same period in 2023, reaching 29.3 million tons.

The importance of creating new checkpoints and modernizing existing ones at the Kazakhstan-China border, as well as developing cross-border shipping, was emphasized to further increase cargo volumes.

At the end of the meeting, the parties confirmed their intentions to strengthen partnership across all main areas of mutual activity.

Economy