BAKU, Azerbaijan, September 25. Kazakhstan and China are working to increase bilateral trade to $100 billion, Kazakh President Kassym-Jomart Tokayev said at the Kazakhstan-China Investment Forum in Almaty today.
According to the president’s press service, Tokayev emphasized that Kazakhstan’s and China’s eternal comprehensive strategic partnership has a strong historical foundation and is steadily developing in the spirit of good-neighborliness and mutual trust.
“Personal attention and firm support from my close friend, highly respected President of the People’s Republic of China Xi Jinping have brought bilateral relations to an unprecedentedly high level. Kazakh-Chinese cooperation in the new ‘Golden Thirty Years’ has become comprehensive across all key areas. China is Kazakhstan’s main trading partner. Last year, bilateral trade approached a record $50 billion. Our governments are actively working to increase mutual trade to $100 billion,” Tokayev said.
He noted that investment cooperation was also showing steady growth. China traditionally ranks among the largest investors in Kazakhstan, with cumulative investment exceeding $29 billion, according to the President.
More than 9,000 enterprises with Chinese participation operate in Kazakhstan, accounting for almost one in seven foreign companies registered in the country, Tokayev said.
He added that cooperation was being strengthened in such areas as industry, digitalization, smart cities, satellite technologies, agriculture, healthcare and education.
According to Tokayev, the ratification of the Agreement on the Promotion and Mutual Protection of Investments provided an important legal basis for expanding bilateral cooperation.
“The visa-free regime established between our countries also makes a significant contribution to expanding business contacts. It can confidently be said that Kazakhstan currently has the most favorable conditions for attracting large-scale investment and implementing major projects. The main provisions of the Constitution, which entered into force on July 1 this year, provide a strong legal foundation for strengthening the country’s investment potential,” he said.
