Yerbol Karashukeyev, the Kazakh Minister of Agriculture is currently visiting China’s Xinjiang Uygur Autonomous Region, and wishes local Chinese investors to look at the neighbouring Kazakh market for joint ventures.
“We invite Chinese entrepreneurs specializing in the production of seeds, crops and foodstuffs to come to work in Kazakhstan. We are open to cooperation and joint projects. The Agriculture Ministry will provide overall support to the investors,” the Kazakh Agricultural ministry quoted Karashukeyev as saying.
Kazakhstan offers ample opportunities for investment in the agricultural sector, which includes support measures from the government in the form of sectoral benefits and fiscal incentives, according to the ministry.
Xinjiang based investors can conclude investment agreements directly with the government in order to carry out large projects.
The administration of the Xinjiang Uygur Autonomous Region is interested in importing Kazakhstan-produced meat, grains, oilseeds and fodder, while Kazakhstan is looking to buy fruit and vegetables from China.
Trade between Kazakhstan and China totaled US$24 billion in 2022, with Kazakhstan’s exports to China rising 33% to US$13 billion and imports up 33.5% to US$11 billion.
Despite Western criticism of Chinese policies in Xinjiang, the capital city, Urumqi, is the wealthiest in Central Asia and is becoming a target for Central Asian companies looking to raise regional funds from Xinjiang’s regional businesses. Xinjiang borders Mongolia, Russia, Kazakhstan, Kyrgyzstan, Tajikistan, Afghanistan, Pakistan and India.
Source: Silk Road Briefing