Date
25 May 2017
Nursultan Nazarbayev (left) shakes hands with Xi Jinping at a signing ceremony in Beijing Monday. Photo: Reuters
Nursultan Nazarbayev (left) shakes hands with Xi Jinping at a signing ceremony in Beijing Monday. Photo: Reuters

China, Kazakhstan sign US$23 bln in deals

Kazakhstan and China have signed 25 agreements worth US$23 billion, Reuters reported.

The two sides aim to shift their cooperation, dominated by raw materials, to products with greater added value, the official site of Kazakh President Nursultan Nazarbayev said Tuesday.

China has invested billions in mineral-rich Kazakhstan, mainly in oil and gas, and in infrastructure projects serving the industry.

“We have actively cooperated with China for more than 20 years, mainly in the energy sector and in extracting other raw materials,” Nazarbayev’s site quoted him as saying during a meeting with Chinese businessmen in Beijing.

“Yesterday, during our constructive talks with President Xi Jinping, we agreed to create 45 joint facilities, and agreements were signed on 25 of them worth a total of US$23 billion.”

He gave no details. 

In March, China and Kazakhstan signed 33 agreements worth US$23.6 billion, covering areas from hydropower to steel, state news agency Xinhua reported at the time.

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