The Minister of Trade and Integration of Kazakhstan, Arman Shakkaliev, and Vice President of Jiangsu Province SOHO Holdings Group Co., Ding Hai, discussed the initiative to establish a multifunctional center in Astana, as reported by a correspondent from the business information center Kapital.kz, citing the ministry's press service.
The center will allow entrepreneurs from China and Kazakhstan to showcase their products, conduct business negotiations, sign contracts, and receive services for processing trade transactions.
The idea of opening the center in Astana is based on the experience of creating the "Central Asia - Jiangsu" trading center in the Chinese city of Nanjing in 2024. As noted by Arman Shakkaliev, the trading center in Nanjing serves as a unique platform housing companies from Central Asian countries, including Kazakhstan.
“Today, Kazakh companies are showcasing their products at this venue. Moreover, they have gained the opportunity to sell goods through streaming sales. Since the opening of the trading center, products worth approximately 600,000 yuan have been sold in real-time on the e-commerce platform Douyin,” emphasized the minister.
Vice President of Jiangsu Province SOHO Holdings Group Co., Ding Hai, specified that the new multifunctional center will include a trading pavilion, a cultural center, and an office for Jiangsu SOHO Holdings Group Co. Ltd. Additionally, an export-import exhibition of Jiangsu province is scheduled to take place in Astana in May 2025, which will be part of a larger project.
Arman Shakkaliev assured that Kazakhstan will provide comprehensive support at all stages of the project's implementation. The main partner in the development of the center will be JSC "QazTrade Trade Policy Development Center." The minister also supported the initiative to hold the exhibition, suggesting a suitable venue for its organization.
“The implementation of this project will be a significant step towards strengthening trade and economic ties between Kazakhstan and Jiangsu province. China is a strategically important trade partner for Kazakhstan, holding leading positions in bilateral trade volumes. The head of state has set a goal to increase mutual trade with China to 100 billion dollars. We are already witnessing dynamic development in cooperation with Jiangsu province: over 11 months, trade turnover has doubled to reach 2.66 billion dollars, while Kazakh exports have increased by 3.4 times, totaling 1.49 billion dollars,” highlighted Arman Shakkaliev.
As of the end of January-November 2024, the volume of mutual trade between Kazakhstan and China amounted to 27.1 billion dollars. Exports from Kazakhstan to China rose by 1.6%, reaching 13.5 billion dollars.