Trade between Kazakhstan and China has reached record levels, exceeding US $24 billion in 2022, stated by Deputy Prime Minister – Minister for Trade and Integration of Kazakhstan Serik Zhumangarin during the Central Asia+China online meeting of Ministers of Trade and Economy on Tuesday, 18 April.
Zhumangarin noted that China is the main trading partner of both Kazakhstan and other Central Asian countries.
Exports of Kazakhstan products to China increased by more than a third and amounted to US $ 13.2 billion, while imports of Chinese goods to Kazakhstan grew by 33.5% and are estimated at US $ 11 billion.
According to Kazakhstani side, by the end of 2022, the trade turnover between Kazakhstan, China and the countries of Central Asia increased by 31.9% and reached US $32.1 billion (in 2021 – $24.3 billion).
“The Chinese market is a reliable consumer of our products. We are ready to offer a wide range of industrial and agricultural goods for 135 additional commodity items worth over $1 billion,” the Deputy Prime Minister said.
At the same time, he stressed the importance of developing e-commerce, increasing the transport connectivity of the region and consistently improving export and transit conditions, developing interregional and cross-border cooperation.
Taking into account the competitive positions of the Central Asian countries, at the initial stage, Kazakhstan proposes to organize joint promotion of products, including in the Chinese market.
The meeting of Ministers of Economy and Trade “China – Central Asia” was organized on the initiative of the Chinese side and will be held on an ongoing basis in order to systematically sum up the outcomes of trade and economic cooperation and promote the economic development of the six countries. ///nCa, 20 April 2023