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Astana, Beijing to step up financial and e-trade cooperation

12 June 2018 13:37 821
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Astana, Beijing to step up financial and e-trade cooperation

ASTANA. KAZINFORM - Kazakhstan and China agreed to expand financial, trade and investment cooperation, the press service of the Kazakh MFA says.

It was highlighted in the joint statement of heads of state Nursultan Nazarbayev and Xi Jinping as of June 7, 2018.

The two countries will continue with the implementation of the agreement between the National Bank of Kazakhstan and the People's Bank of China on yan (CNY) - tenge (KZT) currency swap. They also confirmed they are planning to introduce innovative methods of financing and guarantees, use of various investment platforms effectively, and combine investments and loans.

Additionally, Astana and Beijing agreed to strengthen cooperation in the sphere of cross-border e-trade. It was suggested creating a new platform and a model of cooperation and harmonize national programs focused on digital economy development.

Nazarbayev and Jinping welcomed the launch of the Astana International Financial Center (AIFC). They stressed they fully support strategic cooperation and partnership between the AIFC, the Silk Road Fund and the China-Eurasian Economic Cooperation Fund. The sides didn't rule out the possibility of the Silk Road Fund becoming a AIFC shareholder one day. As per the document, the AIFC will develop cooperation with the Asian Infrastructure Investment Bank (AIIB).


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