Kazakhstan and China enhance bilateral relations, signing new contracts

Seventeen agreements for $629 million were signed during the Third Kazakhstan-China Interregional Cooperation Forum in Ürümqi, attended by businesses from 17 regions of Kazakhstan and 27 regions of China, the press service of Kazakhstan’s cabinet reported.

The Almaty region and Chinese TBEA, for example, have agreed to build and modernize ten electrical substations and power lines in Kazakhstan. The country’s authorities have also reported an agreement on the construction of an electrical equipment manufacturing site being signed. They haven’t specified who exactly signed the document, though.

Furthermore, Qazaq Camel and Xinjiang Huaken Dairy Group Co. Ltd signed three contracts related to the supply of sunflower oil and powdered camel milk.

As Vice Prime Minister of Kazakhstan Serik Zhumangarin said at the forum opening ceremony, China is the fourth-biggest investor in Kazakhstan.  

«Kazakhstan and China have created all necessary conditions to intensify their interregional interaction. Our investment cooperation has huge potential,» Zhumangarin underlined.

Along with the forum, the EXPO China-Eurasia international exhibition also had its kick-off. The Kazakhstani pavilion with a floor size of 260 square meters was one the biggest guest pavilions on the exhibition. Forty-two Kazakhstani companies have taken part in the exhibition to showcase their export products, primarily food.

In general, Kazakhstan and China are going to boost their turnover of goods to $100 billion.