Kazakhstan to open its trade mission in Urumqi

Kazakh Trade and Integration Minister Arman Shakkaliyev met with member of the Political Bureau of the Central Committee of the Communist Party of China, Secretary of the Communist Party Committee of the Xinjiang Uygur Autonomous Region (XUAR) Ma Xingrui and XUAR Chairman Erkin Tuniyaz to debate strengthening of Kazakhstan-Chinese trade cooperation and opening a trade mission of Kazakhstan in Urumqi, Kazinform News Agency reports.

In 2023 the trade between Kazakhstan and China reached 31.5 billion US dollars with most of 64% or 20.3 billion US dollars falling on China. Today China is Kazakhstan’s key foreign trade partner.

The Heads of State launched last year a new “golden 30th anniversary” of friendship and cooperation and adopted a plan for strengthening ties. Over the next few years Kazakhstan and China will further expand trade and economic ties, improve conditions for doing business and standards of quality of goods.

As stated there the new period of cooperation will give an impetus to the development of relations in various fields, including transit and tourism.

The Kazakh Minister stressed the importance of new export approaches, especially in the context of regional strategies. He added Kazakhstani producers in two years to come will be ready to export over 250,000 tons of vegetable oil and other products to China.

To boost trade between the two nations, particularly, in XUAR, the Head of State set a task to open a trade mission in Urumqi. The Minister suggested holding the opening ceremony as part of the meeting of the Council of the SCO Heads of State this July in Astana. The new trade mission will speed up export and import operations and help establish cooperation between entrepreneurs of the two states.

Kazakhstan takes part in the China-Eurasia Expo every year. Last year the Kazakh companies concluded export contracts worth more than 100 million US dollars. The Minister confirmed the country’s participation in the international China-Eurasia Expo in Urumqi this June 26-30.

Besides, those present debated prospects for cooperation in investment projects, construction, and processing of agricultural goods.