The turnover between Kazakhstan and Xinjiang has risen to $20.3 billion, which accounts for 64% of the entire turnover with China, a significant increase of over 40% in the first half of 2023, according to the Ministry of Trade and Integration, citing Erkin Tuniyaz, head of Xinjiang.
«To boost trade between our countries, with Xinjiang in particular, the president ordered us to establish a chamber of commerce in Ürümqi. QazTrade, an authorized agency under the ministry is going to supervise this chamber. The chamber is expected to be a connecting link between our companies and businesses in Xinjiang interested in our products,» Minister of Trade and Integration Arman Shakkaliyev said.
The official also noted that Kazakhstani producers will export more than 250,000 tons of vegetable oil and other products abroad in the next two months.
Kazakhstan’s exports to Xinjiang primarily consist of copper ore and concentrates – $1.6 billion (31.7%), natural gas – $1.3 billion (26.6%), copper and copper cathodes – $848.80 million (16.9%), iron ore and concentrates – $377.30 million (7.5%), unprocessed zinc – $156.50 million (3.1%), flax seeds – $88 million (1.8%), molybdenum ore and concentrates – $73.10 million (1.5%), sunflower oil – $72 million (1.4%), grain – $67 million (1.3%), barley $56.70 million (1.1%).
Over the period from January to June 2023, Kazakhstan’s exports to Xinjiang grew by 36.5% and reached $6.1 billion. In turn, imports from Xinjiang to Kazakhstan also grew 2.2 times and reached $6.2 billion over the same period.
