Minister predicts Central Asia trade with China will reach $100bn by 2030

By bne IntelliNews November 13, 2023

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.

 

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