China, Kazakhstan Sign Deals Worth Over $8 Billion
(Reuters) – Chinese President Xi Jinping signed at least 24 deals with Kazakhstan, valued at more than $8 billion, during his visit to the country, state news agency Xinhua said on Friday, citing Commerce Minister Zhong Shan.
The deals aimed for cooperation between the two countries in the energy, mining, chemical, mechanical manufacturing, agriculture and infrastructure industries, Xinhua reported.
The deals include the entry of Kazakhstan’s frozen mutton into China as well as China supplying Kazakhstan with super computer equipment, Xinhua reported, adding the two countries are discussing renewing their investment protection deal.
The two countries also agreed to speed up implementing plans to align the China-proposed Silk Road initiative with Kazakhstan, Xinhua said.
Officially named the Belt and Road initiative, the Silk Road initiative unveiled in 2013 has been touted by China as a way to boost global development through expanded links between Asia, Africa, Europe and beyond.
In 2015, China and Kazakhstan had signed 33 deals worth $23.6 billion covering areas ranging from hydropower to steel.
(Reporting by Kanishka Singh in Bengaluru; Editing by Savio D’Souza)