Kazakhstan and China agree on economic cooperation

June 16. Interfax-Kazakhstan

Kazakhstan and China agree on economic cooperationThe Minister of Economic Development and Trade (MEDT) of Kazakhstan Kairat Kelimbetov and the Minister of Commerce of China Chen Demin have agreed to strengthen mutually beneficial economic cooperation.

“On Wednesday the ministers signed a Memorandum on cooperation in creating favorable conditions for promoting economic and technical partnership and investment, implementing joint projects, developing border trade, joint construction of the Khorgos border cooperation center and developing national and regional economic links between the countries,” the MEDT said in a statement.

Besides, the Kazakhstani minister told his Chinese counterpart of Kazakhstan’s initiative to hold EXPO-2017 in Astana and asked for China’s support of the initiative.

The sides also discussed possible creation of free trade zones between them. Kazakhstan expressed interest in cooperating with China in the nuclear energy, agricultural and non-resource spheres, the statement said.

Kairat Kelimbetov informed Chen Demin that the railway line Khorgos-Zhetygen, which will connect China to the southern city of Kazakhstan, would be commissioned before 2012.

The construction of the railway from the Kazakhstani port of Aktau to the border of Turkmenistan will provide access for exports to the Persian Gulf. For China it will be a shorter route compared to the existing sea routes, the statement noted.

According to Kelimbetov, the Khorgos border cooperation center will not only become a major logistics hub, but will complete an industrial chain of production and supply of goods to the Customs Union.