Kazakh Deputy Prime Minister Serik Zhumangarin spoke of the great potential for mutually beneficial cooperation at the 8th China-Eurasia Expo, which was held from June 26 to June 30 in northwest China’s Xinjiang Uygur Autonomous Region.
The expo drew over 1,900 participants from 50 countries, regions and international organizations and showcased over 6,000 varieties of products.
“Cooperation with China is an important factor in Kazakhstan’s sustainable development,” Zhumangarin said during his speech at the expo’s opening ceremony.
Economic and trade cooperation has rapidly expanded since China and Kazakhstan established diplomatic ties in January 1992.
The trade between China and Kazakhstan has grown rapidly, with China becoming Kazakhstan’s largest trading partner in 2023 when bilateral trade registered $41 billion, marking a 32 percent year-on-year increase, Chinese Ambassador to Kazakhstan Zhang Xiao said in an article published on China Pictorial.
Bilateral trade has grown from $400 million at the beginning of diplomatic ties to $41 billion in 2023, a more than 100-fold increase, Ambassador of Kazakhstan to China Shakhrat Nuryshev said in an interview with People’s Daily.
Nuryshev added that the investment cooperation between China and Kazakhstan has grown significantly since the Belt and Road Initiative (BRI) was put forward.
From the China-Kazakhstan (Lianyungang) Logistics Cooperation Base – the first entity project inaugurated under the BRI in 2014 – to the Western China-Western Europe international transport corridor, both countries have been pushing for closer connectivity by developing road and railway transport.
The two countries also enhanced cooperation on low-carbon development through renewable energy programs, including the Zhanatas wind farm, the Turgusun hydropower plant and the photovoltaic power plant in Almaty.
The multiple cooperation projects saw a remarkable growth in Chinese investment in the central Asian country.
According to estimates from the National Bank of Kazakhstan, China ranks fourth in the ranking of foreign direct investment in Kazakhstan. Data from the bank also showed that China’s investment in Kazakhstan in 2023 exceeded $1.81 billion, up 16.4 percent from 2022. Between 2005 and 2023, China invested $25.3 billion in Kazakhstan.
From 2019 to 2021, four political reform packages were implemented in the central Asian country in a bid to pursue progressive governance and improve the well-being of its people.
In 2022, Kazakhstan held its first nationwide referendum since 1995, during which some constitutional amendments were approved, transitioning the central Asian country from a super-presidential system to a presidential republic with a stronger parliament.
“These reforms, interlinked with economic and social initiatives, have balanced presidential powers, strengthened the parliament and the judiciary, and encouraged public participation in governance,” Erlan Karin, state counselor of Kazakhstan, said in an article published in China Daily.
“Our commitment to the rule of law and enhancing the framework of business regulations profoundly resonates with our Chinese partners, who value stability and predictability in international relations,” the Kazakh state counselor said.
Recalling Kazakh President Kassym-Jomart Tokayev’s speech in parliament in March, Karin said Tokayev stressed the importance of unity and solidarity in developing international relations, especially with China.
Since 1992, the two countries have steadily strengthened their relationship – first to a strategic partnership in 2005, then a comprehensive strategic partnership in 2011 and a permanent comprehensive strategic partnership in 2019.
Chinese President Xi Jinping, who will attend the 2024 Shanghai Cooperation Organization Summit in Astana days later, has emphasized during his multiple meetings with Tokayev that China and Kazakhstan should join hands and firmly support each other in realizing individual development objectives.
During his talks with Tokayev in China in May 2023, Xi noted that China is advancing the rejuvenation of the Chinese nation and Kazakhstan is building a prosperous “New Kazakhstan”. He said both countries should vigorously carry forward the traditional friendship, firmly support each other, seek greater synergy between development strategies, deepen mutually beneficial cooperation and jointly pursue development and rejuvenation.
Xi also called on the two sides to strengthen cooperation and promote Belt and Road cooperation to achieve more results and deliver more benefits to the people of the two countries during their meeting at the third Belt and Road Forum for International Cooperation in China last October.
Source: https://news.cgtn.com/news/2024-06-30/China-Kazakhstan-see-greater-cooperation-with-shared-development-1uR282ycnL2/p.html
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