Kazakhstan is set to boost
exports of domestic products to China by $1 billion. The country intends to expand
supplies on 135 commodity items, including industrial and agricultural goods,
as announced by Minister of Trade and Integration Arman Shakkaliyev at the
Forum of Kazakh Exporters in Astana. He reminded that China became the main
trade partner of Kazakhstan in 2023. The trade between the two countries hit
record high, reaching over $31.5 billion. Nearly half of the figure is the
export of Kazakhstan’s products to China, with an increase of 12 percent. The
parties plan to increase trade to $40 billion in the near future, including through
demand for Kazakh grain and expanding the list of agricultural products
supplied to the Chinese markets.
“We have invited over 200 Chinese
entrepreneurs. For instance, we plan to sign forward contracts for 300,000 tonnes
of corn within the forum. Also, China has requested up to 500,000 tonnes of
rapeseed oil from Kazakhstan,” said Shakkaliyev.
“In 2022, wheat exports from
Kazakhstan amounted to only 130,000 tonnes. This figure reached 600,000 tonnes in
2023 and about 200,000 tonnes in less than three months of this year. Thus, we
see the potential and aim to export at least 1 million tonnes of wheat to China
so that it becomes a traditional grain market for Kazakhstanmm,” said Rustam
Zhanatayev, Managing Director at the Food Contract Corporation national
company.
Editor: Aizhan
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