International integration

Kazakhstan and China signed 40 agrts worth $13 bn

The President of Kazakhstan met with representatives of Chinese business circles, the press service of Akorda reported.
World08 June , 18:02

During the meeting, the Head of State stressed that China was one of the most important strategic partners of Kazakhstan and noted the historically established friendly and trusting relations between the two countries.

"China ranks the 4th placement in terms of direct investments in Kazakhstan. In 2017, the trade turnover between our countries amounted to 10.5 billion dollars with the increase of 33%", the President of Kazakhstan said.

Nursultan Nazarbayev pointed out that in Kazakhstan there were more than 1200 enterprises with participation of Chinese capital in the oil and gas, chemical and food industries, as well as in banking, engineering, logistics and other spheres.

"The Business Council has held today. More than 300 representatives of business of both countries took part in it. Approximately 40 commercial documents worth more than 13 billion dollars were signed. In addition, within the framework of cooperation in the field of industrialization and investment, a list of 51 projects was formed for a total of about 28 billion dollars", the President of Kazakhstan said.

The Head of State told the businessmen about the favorable geographical location of Kazakhstan and the advantages of doing business connected with this factor.

"Kazakhstan is a member of the Eurasian Economic Union with a population of more than 180 million people, where there are no customs borders. In the territory of Kazakhstan there are 5 railway and 6 automobile international routes that connect China and other Asian countries with Europe through Russia, the Caspian and Black Seas, as well as Iran and Turkey. This allows to deliver goods to Europe from China via Kazakhstan and back for 15 days, while shipping by sea takes 2-3 times more time", Nursultan Nazarbayev stated.

Along with this, the President of Kazakhstan paid attention to the measures taken in order to increase investment attractiveness and improve the business environment. In particular, the liberalization of business legislation, the establishment of the Foreign Investors Council, the national companies "Kazakh Invest" and "Kazakh Export", the simplification of the procedure for attracting foreign labor and obtaining licenses and concluding subsurface use contracts, as well as establishing tax incentives and preferences for participants of 11 special economic and 24 industrial zones.

"Our country is implementing a state program for the development of the agro-industrial complex, as well as a special state program "Digital Kazakhstan". The concept of development of the tourist industry was adopted. We are considering the possibility of our major national companies entering the IPO on the stock exchanges of Hong Kong and Shanghai. On the basis of the infrastructure of EXPO, the "Astana" International Financial Center started its work, which is intended to become a regional center for the development of "green", Islamic and innovative financial instruments. I invite Chinese companies to participate in the implementation of these large-scale projects", Nursultan Nazarbayev said.

During the meeting, the representatives of leading Chinese companies expressed high interest in establishing business contacts with their Kazakh counterparts.

In conclusion, the Head of State expressed his confidence that such meetings would promote even greater rapprochement between the two countries and strengthen a mutually beneficial partnership.

Photo: the press service of Akorda