Kazakhstan strengthens trade and investment cooperation with Hunan Province

Minister of Trade and Integration of the Republic of Kazakhstan A. Shakkaliev visited Hunan Province during his working trip to China , El.kz reports with reference to the press service of the department.

Minister of Trade and Integration A. Shakkaliev met with the Governor of Hunan Province, Mr Mao Weiming to exchange views on the further cooperation in the field of trade and investment.

The minister also stressed that investment ties between the two countries are also developing well. So, last year, China invested about $1.4 billion in the economy of Kazakhstan, mainly in the development of such industries as construction, manufacturing, food industry, etc.

In his turn, the governor of the province, Mr Mao Weiming announced that Chinese companies have a high interest in working with companies in Kazakhstan, especially in the field of metallurgy, processing of agricultural products, mechanical engineering, and energy.

Following the meeting, the parties assured of a strategic partnership and assistance in increasing trade and investment between Kazakhstan and Hunan Province.

The trade turnover between Kazakhstan and Hunan Province for 7 months amounted to $413.1 million.

Kazakhstan's exports amounted to $171.1 million with an increase of 7.6 times, these are mainly metallurgical products (ferroalloys, copper), as well as agricultural products (sunflower oil, barley, flax).

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