ASTANA, Kazakhstan, May 29. Kazakhstan and China will increase the volume of cargo transportation by road, Trend reports.
Appropriate measures in this direction are provided for in the Agreement between the governments of Kazakhstan and China on international road transport, which was ratified today by the Mazhilis of the Parliament of Kazakhstan. The agreement was signed in Xi'an on May 17, 2023.
Thus, this agreement will increase the volume of cargo transportation carried out by road between the two countries, as well as regulate the transportation of goods between Kazakhstan and China and transit through their territories to and from third countries.
The agreement will also allow Kazakh vehicles to travel deep into Chinese territory, including to seaports in the southeast of the country. This, in turn, will reduce the costs and time for reloading goods in the border areas of Kazakhstan and China and will have a positive impact on the cost of imported goods and the costs of Kazakh exporters. Similar conditions will apply to Chinese carriers in Kazakhstan.
As part of the agreement, it is also planned to issue electronic permit forms for road transport. Transferring permit forms from paper to electronic format will eliminate additional financial costs for the production of paper forms as well as the human factor in the process of their distribution and control.
To note, in 2023, the volume of exports of Kazakhstani goods in this direction increased by 661 percent - from 44,400 tons to 338,000 tons of goods compared to the previous year.
Meanwhile, the volume of trade turnover between Kazakhstan and China amounted to $4.36 billion from January through February 2024. The volume of trade turnover increased by 25 percent compared to the same period in 2023 ($3.48 billion).
At the same time, in the structure of trade turnover, exports to China for the above period amounted to $2.26 billion, which is 53 percent more than January–February 2023 ($1.47 billion).
In addition, Chinese imports rose 4.5 percent to $2.1 billion in January–February 2024. From January through February 2023, imports amounted to $2 billion.