Shandong is the third regional trade partner of Kazakhstan in China

Today, October 4-th, 2023, in Astana Deputy Prime Minster Serik Zhumangarin opened a forum on trade and economic cooperation between China (Shandong) and Kazakhstan.

As the Deputy Prime Minister noted, this event is a logical continuation of the working meetings held two weeks ago in Jinan, Shandong.

«China is one of the main strategic trade and investment partner of the Republic of Kazakhstan and is in a group of world leaders in all key indicators of progress.The province of Shandong is the third trading partner for Kazakhstan among all regions of China, after the XUAR and Beijing. CTrade between Kazakhstan and Shandong Province in the first half of this year amounted to $1.1 billion, and this is not the limit of our capabilities»,

emphasized Serik Zhumangarin.

Shandong Province is an important agricultural production area in China, rich in wheat, cotton, and fruits and vegetables. Because of this, the agro-industrial complex of Kazakhstan is a key area of potential cooperation between countries. Over the past 10 years, Kazakhstan has managed to increase its large export potential in the field of agriculture; domestic goods are successfully sold in the countries of Central Asia, the EU and the Middle East. In general, exports of agricultural goods from Kazakhstan to China over the past year increased 2.5 times and amounted to $548 million compared to 2021. There are significant prospects in the supply of environmentally friendly agricultural products to China.

«The head of state has set the task of attracting investments of at least $150 billion in the next 7 years. Between our countries, 52 joint industrial and investment projects worth more than $21 billion are being implemented. Since 2015, 25 projects have been launched totaling $7.3 billion. This year, 6 projects are planned to be put into operation. Today we are ready to present potential investors with a wide range of preferences», — Noticed Vice Prime Minister.

In his speech, Secretary of the Party Committee of Shandong Province Lin Wu presented the key areas for cooperation in the fields of agriculture, industry, transport and logistics, and humanitarian cooperation.

«We invite friends from Kazakhstan to a new era of development of Shandong Province, offering endless opportunities for cooperation», — he emphasized.