Trade and Investment: Kazakhstan and Shandong Expand Cooperation

Today, Astana hosted a conference on investment and trade between Kazakhstan and China, organized by the Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan, the Chamber of International Commerce of Kazakhstan and the Ministry of Commerce of Shandong Province.

The conference was attended by the Chairman of the Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan Gabidulla Ospankulov, Chairman of the Chamber of International Commerce of Kazakhstan, Head of the Secretariat of the Chairman of the Presidium of the National Chamber of Entrepreneurs of the Republic of Kazakhstan "Atameken" Murat Karimsakov, Deputy Director of the Department of Commerce of Shandong Zhang Qingwei, Director of the SCO Coordination Department, Department of Commerce of Shandong Province Jia Shanhe, General Counselor of the Economic and Trade Department of the Chinese Embassy in Kazakhstan Su Yu, as well as representatives of government agencies and the business community of Kazakhstan.

This meeting was of particular interest to large companies of Shandong Province engaged in trade and export of motor vehicles.

"Kazakhstan, in its trade, economic and investment policy, attaches particular importance to strengthening cooperation with the People's Republic of China, in particular in such important areas as renewable energy, transport and logistics, e-commerce, tourism, agriculture and industry," Murat Karimsakov noted.

It is important to note that China has become Kazakhstan's main trading partner and the fifth largest source of investment. To date, trade turnover between the countries in 2023 amounted to more than $ 40 billion, an increase of 30% compared to the previous year. In the first quarter of 2024, trade turnover amounted to $ 6.27 billion, which is 6% higher than in 2023.

A memorandum was signed between the Chamber of International Commerce of Kazakhstan and the Shandong Used Car Export Association during the conference. The purpose of which is to expand trade between Shandong Province (China) and Kazakhstan, as well as to strengthen economic ties between enterprises of the two countries.