ASTANA, Kazakhstan, March 7. The Chinese company Genertec International Holding Co., Ltd. wants to create a Kazakh car brand, Trend reports.
This was stated during a meeting between the Chairman of the Investment Committee of the Ministry of Foreign Affairs of Kazakhstan Gabidulla Ospankulov and the Deputy General Director of the Chinese company Wu Yi.
Genertec International Holding Co., Ltd. has shown interest in
developing Kazakhstan's automotive industry by launching a Kazakh
automobile brand.
Furthermore, during the discussion, the parties addressed joint
venture concerns as well as the company's goal to extend its
activities in Kazakhstan, such as commerce, construction, and
investment.
The Chinese business has also shown interest in constructing and
managing medical facilities in Kazakhstan.
In turn, Ospankulov told Chinese partners that Genertec
International Holding's investment ambitions in Kazakhstan would be
fully supported.
Following the conference, the parties decided to step up investment
collaboration in the realization of promising projects.
Meanwhile, China is Kazakhstan's largest trading partner. The volume of trade turnover between Kazakhstan and China amounted to $31.4 billion in 2023. The volume of trade turnover increased by 30 percent compared to the same period in 2022 ($24.2 billion).
At the same time, in the structure of trade turnover, exports to China for the above period amounted to $14.7 billion, which is 14.7 percent more than from January through December 2022 ($13 billion).
In addition, imports from China from January through December 2023 increased by 50.5 percent and amounted to $16.7 billion. In 2022, imports amounted to $11.1 billion.
