Kazakh-Chinese economic cooperation needs adequate legal framework – Nazarbayev

September 27. Interfax-Kazakhstan. Astana

Kazakh-Chinese economic cooperation needs adequate legal framework - NazarbayevKazakh President Nursultan Nazarbayev and Chairman of the Standing Committee of China’s National People’s Congress Wu Bangguo met Tuesday in Astana to discuss cooperation between the two countries, the Kazakh president’s press office says in a press release.

“This year we are celebrating the 20th anniversary of our independence and you are celebrating the 62nd anniversary of your independence soon. Over the past years our countries have considerably developed the cooperation both in political and economic areas,” Nursultan Nazarbayev is quoted as saying at the meeting.

For instance, the president said, “we completely resolved such problems as border demarcation between our countries, the problems that could not have been resolved for years before.”

“We are well aware that our economic and trading cooperation is boosting. Chinese companies are operating in our oil and gas sector. We have built a unique oil and gas pipeline to China. During the years of crisis China offered us a great support in the form of loans and mutual funds,” the Kazakh president reminded.

“All these agreements now need to be supported by our parliaments as legislative bodies. That is why your visit is very important for us,” Nursultan Nazarbayev said.

Mr Bangguo thanked the Kazakh president for the invitation and warm welcome and gave him the greetings from Chinese President Hu Jintao.

“He asked me to tell you that you are always welcomed in our country,” Mr Bangguo was quoted as saying.


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Nazarbayev received President of CITIC Group Tian Guoli


President Nursultan Nazarbayev has received President of CITIC Group Tian Guoli; the President’s press service reports.

The issues of expansion of investment cooperation were discussed at the meeting.

“This is my first visit to Kazakhstan. Wherever we have been we saw construction sites and cranes. It is a sign of dynamic development of Kazakhstan’s economy. This reminds moments, when China started the policy of reforms and openness, when the Chinese economy began to develop rapidly. During the meeting with Nursultan Nazarbayev, the Prime Minister, ministers and heads of the Kazakh enterprises, I felt their confidence in the bright future of Kazakhstan’s economy. We together with our Kazakh partners implement a number of joint projects, in particular develop Karazhambas deposit. CITIC company is a large state diversified corporation. We are engaged in oil, financial issues as well as heavy engineering and petrochemistry. We consider that development of cooperation in the non-oil and gas sector of Kazakhstan will promote development of the Kazakh economy. We also implement the project of a bitumen plant. We established a joint investment fund with SamrukKazyna. Establishment of CITIC-Kazyna Investment Fund is aimed at search for promising investment projects not only in Kazakhstan, but in China and worldwide. During my visit I assured in the fact that Kazakhstan has a good legislative framework for foreign investments. Our states have very good political relations,” Tian Guoli said at a briefing.