Trade and economic mission of Kazakhstan to Urumqi: Successful negotiations and new contracts

A trade and economic mission was held in Urumqi from 27 to 30 June 2024. The event, organised by «QazTrade» JSC, was attended by more than 42 Kazakhstani producers of food products, including oil and fat and meat products, pasta and confectionery, ice cream, honey, wine and spirits and knitwear.

Welcoming speeches were made by Vice Minister of Trade and Integration of the Republic of Kazakhstan Kairat Torebayev, Vice Minister of Commerce of the People's Republic of China Shen Qiuping and other dignitaries. As part of the mission, a memorandum of co-operation was signed between the International Trade Promotion Committee of Xinjiang Production and Construction Corps and «QazTrade» JSC.

Kairat Torebayev, Vice Minister of Trade of Kazakhstan, emphasised that interaction with China, one of the world's largest investors and leading economies, is an important factor of sustainable progress for Kazakhstan.

In 2023, trade turnover between our countries increased by 30% to $31.5 billion Exports from Kazakhstan to China increased by 10% to $14.7 billion.

The main partner of the event from the Chinese side was the International Trade Promotion Committee of Xinjiang Production and Construction Corps.

Chinese companies showed high interest in Kazakhstani producers, and preliminary agreements were reached on the development of further relations and co-operation.

As a result of the trade mission, export contracts were signed for the supply of oil and fat products, confectionery and other food products worth $22.8 million.

The mission participants noted the high level of mutual understanding and partnership between Kazakh and Chinese companies, which contributes to further strengthening of economic ties between our countries.