Trade turnover between Kazakhstan and China increases by 10%

Over the first four months this year, the trade turnover between Kazakhstan and China has reached US$5 billion. The growth amounted to 10 percent compared to the same period last year. The data was announced by Director of the Institute of World Economy and Politics under the Nursultan Nazarbayev Foundation Yerzhan Saltybayev. He said that today China is the second largest trade partner of Kazakhstan and one of the most important investors. Chinese businesspeople have invested in the country nearly US$19 billion over the past 12 years. More than 2,700 enterprises with Chinese capital are currently operating in Kazakhstan.

“In 2013, Kazakhstan Wealth Fund Samruk Kazyna and China Council for the Promotion of International Trade created the Kazakh-Chinese council that today serves as an effective platform for trade and economic cooperation. In 2020, we can see that despite the pandemic, trade and economic cooperation between our countries did not stop, did not decline, and moreover, even increased by 4 percent,” said Yerzhan Saltybayev, director, IWEP Under Nursultan Nazarbayev Foundation.

Translation by Saniya Sakenova

Editing by Saule Mukhamejanova