Goods turnover between Kazakhstan and China increases

Since the beginning of this year, the goods turnover between Kazakhstan and China has grown by 24%. This figure was revealed during a meeting between Prime Minister of Kazakhstan Alikhan Smailov and Vice Premier of China Ding Xuexian who came to Astana on an official visit.

«Over the past ten months, the trade between our countries has grown by 24%. I think this is a good tempo that can help us to reach $40 billion in goods turnover, a goal that was set by the leaders of our countries,» Smailov said.

He also noted that the bilateral goods turnover between Kazakhstan and China has demonstrated high performance. Last year, for example, the rate grew by 35% and reached $24.2 billion. The dynamic growth has been continuing this year as well, the prime minister underlined.

Around 85% of all goods that are headed from China to Europe go via Kazakhstan.

This year, President Kassym-Jomart Tokayev twice said that the country intends to boost trade with China up to $40 billion. He also said that Kazakhstan accounts for half of Chinese trade with Central Asia.

Tokayev believes that if these dynamics proceed, the goods turnover between Central Asian countries and China will reach $100 billion by 2030. The president of Kazakhstan also thinks that the region can expand the range of goods it exports to China. For instance, Kazakhstan can boost its exports to the PRC by 135 non-commodity items.

Tokayev also pointed out that the Khorgas International Trade Center at the border with China has resumed operations after a three-year idle period.