ASTANA, Kazakhstan, August 9. The Ministry of Transport of Kazakhstan and the Hong Kong Association of Freight Forwarding and Logistics Limited have signed a Memorandum of Cooperation in the field of transport, Trend reports.
The document was signed during a meeting between the Minister of Transport of Kazakhstan, Marat Karabayev, and Frankie Yick Chi-ming, Member of the Legislative Council of the Hong Kong Special Administrative Region of China, as part of the Hong Kong Logistics Services Mission to Kazakhstan.
During the meeting, key issues of bilateral cooperation in the field of transport and logistics, as well as prospects for further development of partnership relations between Kazakhstan and Hong Kong were discussed.
At the end of the meeting, the parties noted the importance of exchanging the experience of the two countries in introducing advanced technologies in the transport sector.
To note, China became Kazakhstan's largest trading partner in 2023. 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 through December 2022 ($13 billion).
In addition, imports from China surged by 50.5 percent from January through December 2023, totaling $16.7 billion. In 2022, imports totaled $11.1 billion.