Kazakhstan's trade opportunities presented in Hong Kong

Minister of Trade and Integration Arman Shakkaliyev spoke on September 13, 2023 at the VIII «One Belt, One Road» Summit in Hong Kong.

Barrier-free trade, investment and trade and economic cooperation are the main objectives of the «One Belt, One Road» initiative. To date, 150 countries along the Belt and Road route and more than 32 international organizations have joined the initiative.

«China is the second largest partner of Kazakhstan, with a trade turnover of $24.2 billion in 2022. The dynamics of trade with the special economic region is growing intensively: last year, bilateral trade between Kazakhstan and Hong Kong increased by 91% and reached $51.8 million. We are ready to increase non-commodity exports to China in the amount of $ 1 billion for 135 commodity items, to Hong Kong — for 100 commodity items in the amount of over $ 600 million», - Arman Shakkaliyev said.

The main component of the development of international trade is the mutual opening of markets and the development of supply chains. Arman Shakkaliyev announced Kazakhstan's ambitious plans to become a major transport hub connecting Europe and Asia.

«A lot of prerequisites have already been created for this. The volume of container rail traffic in the China-Europe-China direction through the territory of Kazakhstan is growing annually. On the border with China, the formation of the FEZ «Khorgos - Eastern Gate» has been fully completed. In 2014, a logistics terminal was established in the port of Lianyungang with Chinese partners, which today is the main point of consolidation of cargo flows from and to Kazakhstan. In May of this year, the construction of the terminal of JSC NC «KTZ» was launched on the territory of the dry port of Xi'an. According to the «ray» principle, high-quality road projects are being implemented in the directions Center-South, Center-East, Center—West, which will provide through passage from south to north, from west to east», - he continued.

In conclusion, Arman Shakkaliyev noted that Kazakhstan has great investment potential and is ready to actively work with foreign partners in the direction of manufacturing and light industry, new high technologies, green energy, infrastructure and finance.

For reference: «One Belt, One Road» is an international initiative of China to improve existing and create new trade and transport corridors connecting more than 60 countries of Central Asia, Europe and Africa. It unites two strategic Chinese projects aimed at developing regional multilateral cooperation — the Silk Road Economic Belt and the 21st Century Maritime Silk Road.

The Silk Road Economic Belt was initiated by Chinese President Xi Jinping in Kazakhstan in September 2013. The Silk Road Economic Belt contains the following directions:

1. exchange of views on the economic development strategy;

2. construction of a unified transport infrastructure from the Pacific Ocean to the Baltic Sea;

3. strengthening trade ties with the removal of barriers;

4. strengthening of currency flows;

5. strengthening ties between peoples.