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Kazakh enterprises offer agricultural supplies to Chinese province

Kazakhstan Materials 25 March 2024 11:31 (UTC +04:00)
Madina Usmanova
Madina Usmanova
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ASTANA, Kazakhstan, March 25. Kazakh companies have signed export contracts for the supply of agricultural goods to the Chinese province of Sichuan, Trend reports.

The contracts, worth a total of $75.2 million, were inked during a trade and economic mission to Chengdu, China, attended by more than 40 Kazakh goods manufacturers.

As a result, Kostanay Flour Milling Company LLP and Pan Asia Forward Sichuan International Trading, as well as Khleb SNAB LLP and Pan Asia Forward Sichuan International Trading, reached deals to buy agricultural goods.

QazTrade LLP also inked memoranda of cooperation with the Sichuan Cooperative Supply and Sales System of China Co-op Group and the Pan Asia Investment and Development Group of Sichuan Province.

According to the Ministry of Trade and Integration, export contracts include supplies of sunflower, soybean, safflower oil, confectionery products, feed flour, and other agricultural products.

To note, the trade turnover between Kazakhstan and China was $31.4 billion in 2023. The volume of trade turnover increased by 30 percent from the same period in 2022 ($24.2 billion).

At the same time, in terms of trade turnover, exports to China during the aforementioned period totaled $14.7 billion, 14.7 percent greater than from January to December 2022 ($13 billion).

In addition, imports from China surged by 50.5 percent from January to December 2023, totaling $16.7 billion. In 2022, imports totaled $11.1 billion.

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