ASTANA, Kazakhstan, September 16. As a result of business meetings held during the visit of the Kazakh business delegation to the Chinese city of Wuhan, Kazakh entrepreneurs entered into contracts for the supply of flour, egg noodles, confectionery, vegetable oils and feed in the amount of $28 million, Trend reports.
The business delegation of Kazakhstan to China was headed by Vice Minister of Trade and Integration of the Republic of Kazakhstan Kairat Torebayev. At a meeting with business circles in Wuhan, he noted the positive development of trade between Kazakhstan and China.
"The Chinese market represents a stable and demanding consumer of our products. Kazakhstan is ready to offer a wide range of industrial and agricultural goods worth more than $1 billion for an additional 135 product positions," he said.
According to him, Kazakhstan pays special attention to trade and economic cooperation with China. As stated by the heads of state of Kazakhstan and China, in the coming years the volume of mutual trade between two countries may increase to $40 billion.
Since May of this year, China has occupied a leading place among Kazakhstan’s trading partners. At the end of 2022 alone, mutual trade turnover between Kazakhstan and China reached a historical maximum of more than $24 billion. For 7 months of 2023, the volume of trade between Kazakhstan and China increased by 20.6 percent compared to the same period last year and amounted to $16.3 billion.
Kazakhstan’s trade with Hubei province at the end of seven months of 2023 increased by 77 percent and amounted to $94.3 million, while the export of Kazakh goods amounted to $6.8 million and imports of $87.5 million.
