Kazakhstan and China partner for increased investment cooperation
Kazakhstan and China Strengthen Industrialization and Investment Partnership
The 21st meeting of the Kazakh-Chinese Coordinating Committee for Cooperation in Industrialization and Investment took place on Oct. 16 in Astana, where Kazakh and Chinese officials reviewed the progress and expansion of their partnership in industrialization and investment.
Co-chaired by Kazakh Deputy Foreign Minister Alibek Kuantyrov and Zhao Chenxin, Vice Chairman of China’s National Development and Reform Commission (NDRC), the meeting highlighted the growing ties between the two countries. In a press statement released by the Kazakh Foreign Ministry, Kuantyrov emphasized the unprecedented level of Kazakh-Chinese relations, which have been strengthened by mutual visits of heads of state, including Chinese President Xi Jinping’s historic visit to Kazakhstan during the SCO Summit in July.
The dialogue on industrial and investment cooperation, initiated a decade ago, continues to play a significant role in the bilateral relationship as both countries celebrate the 30th anniversary of their diplomatic ties. The Deputy Minister highlighted the importance of ongoing investment cooperation, with China being a top source of direct investment into Kazakhstan. Over the last year and a half, 117 commercial agreements worth over $42 billion have been signed between the two nations, with 100 joint investment projects currently in progress.
The meeting focused on joint projects in various sectors including energy, infrastructure, agriculture, manufacturing, finance, transport, aerospace, and IT. Both parties agreed to continue working together to enhance their industrial and investment cooperation for mutual benefit. The partnership between Kazakhstan and China is expected to bring about further economic development and prosperity for both countries in the years to come.
