On September 12, the opening of the Central Asia – Jiangsu Trade Center took place in the Chinese city of Nanjing, Jiangsu Province. The multi-storey Center is a multifunctional platform for Central Asian businesses to enter the Chinese market, according to the Ministry of Trade and Integration of Kazakhstan.
The Central Asia-Jiangsu Trade Center will be supervised by the National Institute for the Development and Promotion of Non–Primary Exports QazTrade and Jiangsu SOHO International Group Corp, a large state-owned enterprise group of China owned by Jiangsu Province. The company includes more than 380 enterprises.
At the grand opening ceremony, visitors were treated to an exhibition showcasing a wide range of products from Kazakhstan, Uzbekistan, Tajikistan, and Turkmenistan.
Kazakhstan’s Minister of Trade and Integration Arman Shakkaliyev highlighted the center’s potential to increase trade between Central Asia and China. “Today, about 50 Kazakhstani companies presented their products at this site. This will allow customers to personally familiarize themselves with Kazakh products. Of course, there will be an opportunity to increase trade with China by presenting its products at this site,” he said.
The center’s online presence was also a highlight, with Kazakh food products sold in real-time on the Douying e-commerce platform, generating $15,000 in sales within an hour.
Located in Jiangsu, a region known for its developed infrastructure, the trade center is expected to facilitate access to the Chinese market for Central Asian businesses. In turn, this will help meet the growing demand for goods and services in the five Central Asian countries along the Belt and Road Initiative.
Plans are also underway to establish a similar multifunctional center in Astana, Kazakhstan.
With annual imports exceeding $266.8 billion, primarily consisting of industrial and agricultural goods, Jiangsu is a significant market for Central Asian products. ///nCa, 13 September 2024