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Value of retail trade between Kazakhstan, China grows

Business Materials 21 August 2018 17:24 (UTC +04:00)

Baku, Azerbaijan, Aug. 21

By Fikret Dolukhanov – Trend:

Since early 2018, the retail trade between Kazakh Almaty city and China totaled more than 1.614 million tenges, which is 10 percent more than in the same period last year, deputy head of the business administration of Almaty city Azamat Rahimov said during the opening of the Kazakh-Chinese trade and exhibition center, Kazakh media reported.

China is the biggest strategic partner of Kazakhstan. For the first quarter of 2018, the trade turnover between Almaty and China amounted to $720 million, which is 50 percent more than in the same period last year.

In the first half of 2018, 320 joint ventures and 1,447 Chinese companies were registered in Almaty.

“Holding such events allows strengthening mutually beneficial bilateral partnership between our countries as part of the One Belt, One Road Initiative and developing cultural and trade relations,” Rahimov said. “The trade sector is one of the drivers of Almaty’s economy.”

In Almaty, there are over 20,000 wholesale and retail trade companies. About 230 companies of them are large and medium-sized ones.

Goods of more than 10 Kazakh manufacturers who received permission to supply their products to China have been already presented in the trade and exhibition center.

(360.71 tenges = 1 USD on Aug. 21)

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