Kazakhstan strengthens economic cooperation with China.

By bne IntelliNews February 23, 2011
Kazakhstan is strengthening economic cooperation with China. During the visit of Kazakh president Nursultan Nazarbayev several agreements were signed. Kazakh national sovereign fund SamrukKazyna agreed to borrow USD 1.7bn from state-owned China Development Bank. Moreover, CNPC, China Guangdong Nuclear Power Group and Sinochem Group signed cooperation agreements with Kazakh companies. CNPC will cooperate on developing energy operations, Guangdong will expand nuclear cooperation and Sinochem will form a partnership. Kazakhstan and China also agreed to jointly build a high-speed railway connecting the capital city of Astana with commercial capital of Almaty. Trains on the 1050-km-long double track will run at maximum 350 km per hour. It is planned that the connection will serve 5mn passengers each year. The sides signed a memorandum on the projects. It is planned to launch the route by 2015. During the visit, several other cooperation agreements between the countries were signed: an accord to preserve quality of water in trans-border rivers, and an agreement on extradition of convicts. During the meeting, chairman Chinas Hu Jinato expressed confidence that the visit of the Kazakh president to china would give an impetus to the development of relations between the countries and would raised strategic partnership to a higher level. To remind you, Kazakhstan is the only country from Central Asia that has a strategic cooperation agreement with China.

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