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.