China – Central Asia Trade “Can Reach US$100 Billion” – Kazakhstan Prime Minister
The volume of trade between China and the Central Asian nations will amount to US$100 billion by 2030. This is planned to be achieved by expanding the trade range, as well as simplifying administrative procedures, said Prime Minister of Kazakhstan Alikhan Smailov at the China International Import Exhibition (CIIM) in Shanghai.
Last year, trade between China and Central Asia amounted to US$70 billion, of which 45% was with Kazakhstan. According to Smailov, over 10 years, the total volume of trade turnover between China and countries located along the Belt & Road Initiative reached US$19.5 trillion, and the total volume of investments reached US$380 billion.
Smailov said that Kazakhstan is among the world’s ten largest producers of wheat and flour. Today the republic steadily exports oilseeds, grain, meat and other products to China.
Smailov also noted that Kazakhstan plays a strategic role as a regional transport and logistics hub, becoming a link connecting the Eurasian continent with the Asia-Pacific region.
“Currently, about 85% of all land transit traffic from China to Europe occurs in Kazakhstan,” he stated.
The 6th China International Import Expo was held in Shanghai from November 5 to 11. Last year, representatives from more than 130 countries took part in the event.
Source: Alexandra Goroshilova for Kommersant