Kazakhstan and China: investment cooperation

27.12.2021, 13:15

Over US$500 million of investments from China were attracted to the economy of Kazakhstan in the first half of 2021. This is by 64 percent more compared to the same period last year. According to the Kazakh Foreign Ministry, China today is Kazakhstan’s one of the key trade and economic partners and is among the top 5 countries investing in the domestic economy. The states are jointly implementing 52 projects worth over US$21 billion, 18 of which have already been commissioned for a total of US$4.3 billion. These are projects in the field of mechanical engineering, oil refining, chemical, food industry, agro-industrial complex, infrastructure, construction and logistics. In general, over the past 15 years, China has invested nearly US$20 billion in the economy of Kazakhstan.

“Trade turnover with China is growing. In 2020, there was an increase despite the pandemic, in 2021, we also see positive dynamics following the results of 10 months. In terms of the trade surplus, our exports prevail, that is, we export more than we import, so we have a positive trade balance with China. We mainly export oil, ferroalloys, copper, various ore concentrates, natural gas and so on. Trade turnover grew by 12.5 percent compared to the same period last year,” said Yerlan Zeineshev, Deputy Chairman of Investment Committee, Kazakh Foreign Ministry.

 

Translation by Saule Mukhamejanova