Kazakhstan's trade with its northern neighbor Russia increased by 10% year-on-year in the first quarter of 2023. According to the Deputy Prime Minister, this is because the indirect impact of the sanctions forced Kazakhstan to adjust and significantly increased the export of goods to Russia. In the first half of 2022, the supply of high-tech products to Russia will increase from $15 million to $184 million. In this regard, Kazakhstan is closely watched by the governments of the United States and the European Union to facilitate supply constraints on traded goods.
The deputy prime minister noted that the flow of goods through Russia has become more difficult and some sanctioned companies can no longer buy raw materials from Kazakhstan. Kazakhstan is considering trading with China, Iran, India and Persian Gulf countries via the Caspian Sea due to shrinking trade volumes with Russia. However, "the direction of China is the top priority."
Haval, a sub-brand of China's Great Wall Motor, has begun assembling cars in Kazakhstan, and Chery and other auto brands are also planning to enter Kazakhstan in the near future. Meanwhile, Kazakhstan has started supplying grain to China and is negotiating meat exports. The deputy prime minister said that another railway hub connecting Kazakhstan and China is planned.
No results available
ResetIt is an educational cooperation institution established between universities in the People's Republic of China and universities in Ukraine. The alliance aims to promote educational exchanges, cooperation and development between the two countries.
Contact email: china.kazakhstan.edu@gmail.com