‘CA-China’ Summit will increase Kazakhstan’s investment attractiveness - KazISS expert
«The Kazakh President’s visit to the People’s Republic of China is essential as the countries are enjoying deeper economic relations. In the challenging year 2022 with many regional and global ties collapsed the trade turnover between Kazakhstan and China stood at $24bn, rising nearly 35%. This was possible due to growth in Kazakhstani exports, indicating the country’s active work on promoting its external ties with the neighboring countries. The Summit ‘Central Asia-China’ set to be an impetus to develop interaction and demonstrating our regional cooperation is to take place as part of the visit,» said Kurmashev.
The KazISS expert noted that the Central Asian countries’ total population is around 70 million, making the region appealing for investment and bolstering intra-regional trade.
«Presently, the Central Asian countries' trade is not as much as it should be. Attracting new investors to our countries will strengthen cooperation with China as well as the CA countries. Therefore, the President’s visit to China is pivotal in expanding economic impact», he said.
According to him, Kazakhstan is facing a task of further expanding the Middle Corridor linking China and Europe.
«The Corridor passes through the Caspian Sea to Azerbaijan and further. It is a key transport corridor set to contribute to the economic development. Kazakhstan sets a task to be a transit territory as well as a transit hub, which is possible by opening new distribution centers, production facilities along the road contributing to the economy, and creating value added for Kazakhstan in transportation,» said Kurmashev.
Notably, the ‘Central Asia-China’ Summit is to take place on May 18-19 in Xi'an, Shaanxi Province, northwest China.
On May 17, Kazakh President Kassym-Jomart Tokayev arrived in China for a state visit. The President is expected to hold talks with Chinese Chairman Xi Jinping, meet with heads of major Chinese companies, as well as will take part in the ‘Central Asia-China’ Summit.
The ‘CA-China’ format established by China aims at improving mechanisms for political and diplomatic cooperation, strengthening interaction in trade, investment, transport, health, science, high technology, environmental protection, and culture.