China interested in energy cooperation with Kazakhstan

Astana, Kazakhstan, May 4
By Daniyar Mukhtarov - Trend:

Kazakh Minister of Economy and Budget Planning Erbolat Dossaev held a bilateral meeting with the Minister of Finance of China, Lou Jiwei, within the framework of the 47th meeting of the Board of Governors of the Asian Development Bank held in Astana.

The parties discussed the issues of cooperation and the establishment of the Asian Development Bank Infrastructure (ADBI).

As Jiwei noted, China put forward the initiative to promote economic integration in the region.

"I think that the ADBI will serve to strengthen cooperation between the countries of the region," he said.

The idea of establishment of the bank arose from the unbalanced development of China, as well as for the strengthening cooperation the north and west directions, according to the Chinese minister.

"We are now intensively implementing three projects. Southwest- Marine Silk Road , Northeast - economic zone of the Great Silk Road. And the third direction - Northeast, towards Russia and Mongolia," the minister said.

"We are also now intensively developing transport infrastructure to develop production and processing industry. We presume that the transport infrastructure lays for basis of economic development. We can activate the economy with the development of infrastructure, transport integration, " he added.

"The Asian Development Bank Infrastructure" should serve as a supplement to the function of the World Bank and the Asian Development Bank in the field of infrastructure investments, according to Lou Jiwei.

Noting the dynamic development of the Central Asian countries, the Chinese minister expressed interest in cooperation with Kazakhstan in the field of energy.

In turn, Erbolat Dossaev said that Kazakhstan has a surplus of electricity in the north-east of the country.

"We can consider the issues of electricity flow to China through the east of the country," he said. "Kazakhstan today is exporting surplus electricity to Russia, but the capacity of our country allows exporting quite large quantities."

"There is a large potential and we would like to implement it. We are not deeply integrated as we would like to be. And initiatives such as the creation of an "Asian Development Bank Infrastructure" will allow to deeper implement such projects, in order for the economies could work more closely," Dossaev said.

Translated by S.I.
Edited by S.I.