Chinese enterprises and financial institutions have signed 24 deals worth $8 billion with Kazakhstan. The deal was signed during Chinese President Xi Jinping’s visit to Kazakhstan.
Both sides agreed to work together for the progress in cooperation in energy, mining, chemical industry, mechanical manufacturing, agriculture and infrastructure.
The agreement was signed to supply the latter from Kazakhstan with supercomputer equipment. Two countries also discussed the renewal of investment protection deal. They also inked a protocol to approve the entry of Kazakhstan’s frozen mutton to China.
The Belt and Road Initiative, proposed by Xi in 2013, comprises the Silk Road Economic Belt and the 21st Century Maritime Silk Road, with the aim of building a trade and infrastructure network connecting Asia with Europe and Africa along the ancient trade routes
During his trip, the two countries reached a broad range of consensuses on trade, investment, energy and financial cooperation, and achieved positive results.
Meanwhile, at the Astana summit of the SCO, Xi put forward a series of economic and trade proposals. To implement these proposals, the Chinese Ministry of Commerce will work to advance the mechanism arrangement for regional economic cooperation.
The Ministry will actively promote cooperation between small and medium-sized enterprises and local governments from SCO member countries.
China will also work for the establishment of a union of economic think tanks and strengthen capability building by promoting people-to-people exchanges.
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