Kazakhstan, China sign more than 70 agreements worth over $15 billion

More than 70 commercial agreements worth over $15 billion have been signed with Chinese companies as part of Kazakh President Kassym-Jomart Tokayev's working visit to Shanghai.

The agreements cover artificial intelligence and digitalisation, transport infrastructure, finance, the agro-industrial sector, mechanical engineering and other high-tech industries, Caliber.Az reports, citing Kazakh media.

Among the key deals are agreements on Kazakhstan's strategic partnership with Huawei, the local production of Li Auto, OMODA and JACCO vehicles, and cooperation in the development of electric vehicle infrastructure, artificial intelligence and robotics.

The sides also signed agreements on the construction of the first phase of a multifunctional terminal at the Port of Kuryk, the creation of a "Data Centre Valley," the development of the Kazakhstan-China international logistics corridor and the implementation of major industrial projects.

The signed documents include an agreement on the purchase of technological solutions and equipment between Samruk-Kazyna and Huawei Technologies, a services agreement for issuers of offshore bonds in the free trade zone between the Development Bank of Kazakhstan and China Central Depository & Clearing Co., as well as a strategic cooperation agreement between Qazbot Technologies and Agibot PTE, among others.

Speaking at the World Artificial Intelligence Conference (WAIC), Tokayev said Chinese investment in Kazakhstan's economy has exceeded $30 billion, while bilateral trade has reached a record $49 billion.

According to him, Kazakhstan aims to become a key transport and logistics hub linking China with Central Asia, the Caucasus, the Middle East and Europe.

The president made it clear that 13 international transport corridors pass through Kazakhstan, while around 85% of rail freight traffic between China and Europe travels through the country. More than $35 billion has been invested in transport and logistics infrastructure over the past 15 years.

Tokayev further stated that Kazakhstan is creating a unified digital transport space across Eurasia, with the Smart Cargo platform set to become a central element of the initiative by integrating customs, logistics and commercial services into a single digital ecosystem.

He also noted that Kazakhstan ranks among the world's leading countries in reserves of several strategic resources and intends to expand the production of high-value-added products in cooperation with international partners.

In his words, more than 8,500 companies with Chinese capital currently operate in Kazakhstan, including CNPC, CITIC and Huawei, while relations between the two countries have entered what he described as a new "golden thirty years."

Separately, China's Xinhua news agency reported that Chinese President Xi Jinping held talks with Tokayev at Shanghai's Xijiao Hotel.

By Bakhtiyar Abbasov