The Applied Economics Research Center announced that over the past five years China joined the ranks of the largest foreign investors in Kazakhstan’s economy. The inflow of China’s investments nearly reached the level of Russia’s investments, Kazinform News Agency reports.
Alexander Pavskiy/Kazinform
The report claims that foreign direct investments from China soared in 2017-2023 to make it rank fifth in the Top 5 partners of Kazakhstan. The Netherlands invariably tops the ranking of investment partners with 47.3 billion US dollars followed by the U.S., Switzerland and Russia.
The analysts said bolstering of Kazakhstan-China relations seems an inevitable process that has obvious benefits as diversification of the country’s ties with the wider world. Nevertheless, bolstering of cooperation deserves consideration since it raises the interconnectedness of economies given the size of the economies of China and Kazakhstan.
The experts noted that the trading relations of the two nations will never be ‘equal’ and economic crises of Kazakhstan will not impact China as much as China's crises influence Kazakhstan.
China and Kazakhstan have had close high-level exchanges, with President Xi Jinping visiting Kazakhstan four times in September 2013, May 2015, June 2017, and September 2022; President Tokaev paid a state visit to China in September 2019, came to China to attend the Opening Ceremony of the Beijing Winter Olympics in February 2022, came to China to attend the China-Central Asia Summit in May 2023 and In May 2023, President Tokayev will attend the China-Central Asia Summit and pay a state visit to China; in October 2023, he will attend the Third Belt and Road Summit Forum for International Cooperation; and in March 2024, President Tokayev will come to China to attend the Boao Forum for Asia (BFA) 2024 Annual Conference. President Xi Jinping and President Tokayev met six times and talked on the phone twice.
Bilateral trade volume of 41.02 billion yuan in 2023, up 32.2 percent year-on-year
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