The partnership between Kazakhstan and China received a boost as business leaders from both countries signed 17 cooperation agreements worth $629 million. The signing took place during the third interregional forum in Urumqi, where Kazakhstan's Deputy Prime Minister Serik Zhumangarin led a delegation consisting of representatives from 17 regions, large companies, and businesses. The agreements cover various sectors, including the construction and modernization of substations and power lines, the establishment of a plant for electrical equipment production, and the supply of sunflower oil and camel milk powder. China is currently the fourth-largest investor in Kazakhstan [36bb620f].
The discussions between Kazakhstan and China focused on trade, economic, transport, investment, cultural, and humanitarian cooperation between the regions of both countries. The goal is to increase mutual trade turnover to $100 billion. Kazakhstan's pavilion at the eighth China-Eurasia EXPO international exhibition showcased products from 42 domestic companies. The two countries are exploring collaboration in tourism, railways, the construction of new border crossings, and the expansion of agricultural product supplies. Chinese companies are also seeking partnerships in Kazakhstan, with projects in various sectors. For example, CITIC Construction and its partners plan to build a plant for advanced grain processing in the Almaty Region. Xinjiang Tianye Water Saving Irrigation System Co Ltd is ready to share drip irrigation technologies with Kazakhstan. Deputy Prime Minister Zhumangarin held meetings with representatives of Debont Agricultural Machinery, China National Chemical Engineering Corporation (CNCEC), and Bao Sheng International Trade Co [36bb620f].