Kazakhstan's Prime Minister Alikhan Smailov, during the China International Import Exhibition (CIIE) in Shanghai held on November 5-10, said the volume of trade between China and Central Asian nations is on course to reach $100bn by 2030, Silk Road Briefing reported.
The goal is partly set to be accomplished through an expansion of the range of products traded along with simplification of administrative procedures, he said.
Last year, trade between China and Central Asia amounted to $70bn, with 45% of that being attributed to Kazakhstan, said Smailov.
Smailov emphasised Kazakhstan's growing exports of oilseeds, grain and meat to China.
He also noted that approximately 85% of all land transit traffic from China to Europe currently passes through Kazakhstan.
Kazakhstan’s role as a regional transport and logistics hub for China-Europe trade has been growing amid global sanctions against Russia.
Related Articles
Chinese contractors thrive in Africa, despite Beijing’s $50bn lending pullback, say Nigerian researchers
New research suggests Chinese contractors are thriving in Africa’s infrastructure sector despite a steep decline in state-backed financing from Beijing since 2019. For most of the past 25 years, ... more
Chinese firms to build Africa’s first insulin production plant in Nigeria amid surging diabetes rates
Chinese companies plan to establish Africa’s first local insulin production facility in Nigeria in a bid to end the country’s reliance on imports and position it as a regional centre for ... more
Kenya, South Korea sign MoU on nuclear research reactor project at IAEA conference in Vienna
Kenya and South Korea have agreed to deepen cooperation on nuclear research and development, signing a memorandum of understanding focused on the Kenya Nuclear Research Reactor (KNRR) project at ... more