Kazakhstan & China Ink $15 Billion in Strategic Deals

Kazakhstan and China have dramatically deepened their economic ties, signing over 70 documents valued at more than $15 billion during a high-profile business council meeting in Beijing. The 8th session of the Kazakh-Chinese Business Council, co-chaired by Kazakh President Kassym-Jomart Tokayev, solidified the nations’ commitment to an expansive strategic partnership, signaling a new phase of intense cooperation.

Addressing an audience of over 500 government officials and business leaders, including executives from 70 top Chinese corporations, President Tokayev described China as an “unshakable strategic partner.” He highlighted that Chinese investment in Kazakhstan’s economy has already reached $27 billion, with over 6,000 enterprises with Chinese capital, including giants like CNPC, CITIC, and HUAWEI, successfully operating in the country. Tokayev emphasized that the new agreements are a testament to the robust and growing relationship.

In a direct appeal to Chinese investors, the Kazakh leader assured them that the country has created the most favorable conditions for large-scale projects, promising that “captains of Chinese business will find reliable partners and unique opportunities for growth” in Kazakhstan. He pledged that attracting and supporting these investments would be under the special control of his government, underscoring the political will behind the economic push. This commitment was further reinforced by Tokayev’s mention of his warm personal relationship with Chinese President Xi Jinping, which he said underpins the continuous expansion of bilateral cooperation.

Central to the new agreements is a strategic partnership in the nuclear industry, which includes the adoption of Chinese technologies and specialist training for two planned nuclear power plants in Kazakhstan. This move positions China as a pivotal player in the future of Kazakhstan’s energy sector. Another critical focus is transport and logistics, where Kazakhstan serves as a crucial gateway for China’s Belt and Road Initiative, handling 85% of all continental traffic between China and Europe. The ongoing expansion of the Dostyk-Moyinty railway, set for completion by 2025, is projected to increase transit capacity fivefold. Furthermore, Astana is developing the Trans-Caspian International Transport Route, aiming to boost cargo volume from 4.5 million to 10 million tons.

Massive investments are also flowing into the energy sector. A $7.4 billion project with Sinopec to build a polyethylene plant is underway, while a partnership with CNPC is planned for the modernization of the Shymkent oil refinery. Beyond traditional energy, the collaboration extends to renewable sources, with projects planned alongside companies like China Power International Holding and China Energy. President Tokayev concluded by expressing his confidence that the landmark deals would provide a powerful new impetus for economic cooperation and elevate the strategic partnership between the two nations to a new level.