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Kazakhstan aims to increase export to China by over $1.5B

Business Materials 4 November 2019 18:20 (UTC +04:00)

BAKU, Azerbaijan, Nov.4

By Nargiz Sadikhova - Trend:

Kazakhstan is ready to increase export to China by $1.6 billion via exporting 60 new items, Kazakhstan’s Minister of Trade and Integration Bakhyt Sultanov said, Trend reports with reference to the press office of the ministry.

This was announced during visit of Sultanov to China.

Sultanov noted that China is traditionally one of the key Kazakh partners in the foreign trade: the share of trade turnover accounts for 12 percent of the total Kazakh foreign trade.

Kazakh export to China amounted to 5.3 percent of the country's trade turnover this year, which is an increase of 39 percent, the minister said.

“Increase of export of deep processed goods to China is observed. This completely meets Kazakhstan’s policy on increase of non-commodity export. We are ready to support Chinese companies cooperating with Kazakhstan in non-commodity export,” Sultanov said.

The minister stressed the necessity joint work on expanding the range of goods and services exported, establishing direct contacts between the business circles for further development of trade and economic cooperation, and maintaining its high positive dynamics.

“We propose that Chinese importers consider possibility of importing over 30 types of products from Kazakhstan, which were not imported previously, including aluminum oxide, Portland cement, ferrosilicon, metal pipes, ferrosilicon manganese, chromium oxides and hydroxides, bearings, rods made of steel and iron, and so on,” Sultanov said.

During the minister’s visit to China, memorandum of understanding on promotion of Kazakh goods to Hubei province has been signed between KazakhExport company and Wuhan Asia Europe Logistics Co., Ltd.

“The memorandum is an important step in increasing efficiency of cooperation between Kazakhstan and China. The protocol of intent signing confirms the interest of both countries in creating the basis for the development of close commercial ties and increasing the volume of non-commodity exports Kazakh products to China,” Sultanov concluded.

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