Kazakhstan and China will set up a working group to speed up exports

An agreement has been reached with Chinese Commerce Minister Wang Wentao to create a working group to speed up the passage of goods on the Kazakhstan-China border, World of NAN reports with reference to the Ministry of Trade.

Transport, customs and border agencies of Kazakhstan and China will take part in this group. The first meeting of the working group is planned to be held as early as the end of August in the city of Urumqi.

‘We have analysed commodity positions, for which Kazakhstan can increase production and realise export potential. Only for China it is 50 goods, which annually imports more than $700 billion. If we can take 7-10% of this volume, it will be about $70 billion. Moreover, during the visit of Chinese President Xi Jinping, the Chinese side voiced its willingness to double the volume of trade turnover to $80 billion, bringing mutual trade to new heights,’ said Trade Minister Arman Shakkaliyev.

After negotiations with the Chinese side, today more than 20 oil plants have been included in the register of the Chinese GTU. Now their products can be exported at $20-30 more expensive per tonne. This increases foreign exchange earnings and the export potential of domestic oil and fat products.

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